Now the Digitalized Property Transactions Workgroup has developed standard rental models for HDB and private residential apartments that you can use! The working group, chaired by the Council of Estate Agencies, was created as one of the initiatives under the Real Estate Transformation Map, which aims to help the entire real estate sector to offer digital, fluid, efficient and safe end-to-end transactions. The lease includes the terms and conditions of the lease of a property and offers clauses relating to the most important aspects of the lease, in order to protect and compensate the interests of both landlords and tenants. Disagreements such as rent, payment or forfeiture of deposits, the right to increase rent and rental periods are private business between the tenant and the landlord. Landlords and tenants should try to settle the dispute amicably and reach mutual agreement. It is recommended to read carefully and understand all the terms of the lease before signing it. It is customary for the rent to be paid monthly. The first payment must be made on the day of the start of the lease, while subsequent payments must be made on the same day of each month. The amount of the deposit is usually one month`s rent for a one-year contract and a 2-month rent for a 2-year lease. This is payable at the signing of the rental agreement with the rent of the first month. It is recommended not to pay more than one month`s rent. If you plan to rent or rent an HDB apartment or a bedroom, you can refer to these standard rental models created with contributions from regulators, associations representing the real estate agency industry and consumers and practitioners experienced in the housing rental process. These models are only a guide and you are free to modify the model or negotiate the conditions contained in the model with your real estate agent in order to meet your needs and/or requirements.
Do you want to rent or rent a property? Wondering where you can get a lease that protects the interests of landlords and tenants? With greater clarity on the steps associated with a rental activity, tenants and landlords will have a better understanding of the rental process and the controls they must perform to protect their interests. At the same time, real estate agents can use the information to ensure that the steps and checks in question are carried out, as they facilitate transactions for their clients.