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Whether it is the first time you are looking for a rent a room in Singapore or if you have already been a tenant on other occasions, you should bear in mind that there are many aspects to assess in order to choose your ideal rental apartment .
Getting it right is not always easy and many times it happens that, when you have been living in your new apartment for a few weeks, you begin to find major defects or discomforts that you had not noticed before.
The rental market has become the meeting point, on a daily basis, between owners and tenants. Despite the existence of a law that regulates how the contractual relationship between both parties should be, the truth is that both the landlord and the tenant must take certain precautions when signing the contract and avoid problems in the future. With a booming rental market, make an inventory of existing assets in the property and their condition, establish prohibition clauses – if necessary – or determine who will pay for the supplies or who lives in the home, are some of the aspects that the owner must take into account before renting his home.
Measures all of them completely internalized and adopted by so-called professional landlords or by those who have been working as private landlords for years, but possibly unknown to those who have just entered the rental market.
Few points to keep in mind before making contract:
Everyone who lives in the property, over 18 years of age, must appear in the contract. “It may happen that the owner of the rental contract leaves and the landlord is left in a precarious situation, since, if he leaves, in case of non-payment, who do we claim? A person who lives in that house, but What does not appear in the contract and perhaps you do not even have proof of it? “.
Make an inventory of goods
If you are thinking about renting a home, the first thing to do is an inventory where everything that is in the property is reflected, as well as its condition, such as appliances or furniture , and that the tenant can use during the time that live there. This document will be an annex to the lease that will serve by itself, once completed, there are claimable damage to the furniture. In addition, it is best to accompany the document with images.
Check the home insurance
“The home insurance we have is like homeowners. When we rent said home we have to review this insurance and see what coverage it offers us in case of renting the home. It may happen that this insurance does not even cover accidents. nor a fire caused in a rented house “, warns the manager of Rent Insurance.
Check that the house can be rented
“Sometimes, when we are dealing with protection homes that are not released, there are limitations on their rent. If we do not check this, we could face a fine”, going to the deeds of the house to check if there is any limitation when renting that home.
Be careful with paying for supplies
Once the house is rented, the owner and the tenant must decide who will be the owner of the supplies. In the event that the owner decides to maintain ownership, he must keep the supplies in his name, being able to pay the bills himself and subsequently pass the cost on to his tenant , or change ownership, but providing the account number of the lessee to companies. In this case, the lessor would not have to take charge of possible defaults.
Home landlords prefer that their tenants not live with animals , for example, and this requirement should appear as one more condition of the contract. In the same way, they must incorporate the clause of prohibition of sublease so that the tenant cannot rent the house again to a third party and do business with it.
In case the tenant needs to have a guarantor as a way to guarantee the payment of the rent, it must be specified that that person extends his guarantee during the entire period of the lease. Otherwise, the owner will not be able to demand the payment of the rent jointly if the contract is extended. In addition, in the event that this restitution is through eviction , some of these companies take care of all the legal costs, the locksmith and damage caused by the tenant.
In long-term contracts, by law, the tenant must deposit a monthly payment as a guarantee. In the rest of the agreements, this deposit will be the equivalent of two months. In addition, there are other mechanisms to guarantee the payment and maintenance of the property as is the payment of a maximum of two months of guarantee added in the housing lease contract or the months that are agreed between the parties .
With the implementation of these simple recommendations, the experts assure that renting a home will be an easier process for the owner, but also for the tenant, avoiding possible problems and misunderstandings during the duration of the lease. However, both Secure Rental and Finaer are committed to hiring professionals who not only advise both parties in the process, but also act as intermediaries in case of conflicts and guarantee the collection of the rent.
Hamza Fazal is a reporter for The Hear UP. After graduating from the University of Abbottabad, Hamza got an internship at the NPR and worked as a reporter and producer. Hamza has also worked as a reporter for the Medium. Hamza covers health and science for The Hear UP.
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Umar Nisar was born and raised in the busy city of Abbottabad. As a journalist, Umar Nisar has contributed to many online publications including PAK Today and the Huffing Post. In regards to academics, Umar Nisar earned a degree in business from the Abbottabad UST, Havelian. Umar Nisar follows the money and covers all aspects of emerging tech here at The Hear Up.