Considerations when choosing rental property (Singapore)
A few friends have asked me a few common questions questions on renting property in Singapore. I've decided to share them here for all to share.
1) What is the right price?
Property prices varies according to the location and facilities, size and conditions that goes with the property. The best gauge is to check on the resources provided the internet (propertyguru or iproperty) and Straits Times classified. Do a price comparision. It do not take a long time and it will save you a few hundred bucks ;)
2) Most ads in the internet don't add up. Units are either without details or already rented when you I call, when it's posted on the same day of the call.
It could be a case of severe bad luck :P
Or it might be rogue agents "fishing"/"baiting" for clients. Most of these agents will tell you how amazing the place is, everyone wants it so bad that it's rented upon posting.
Else the ad would not show the area and block, and the agent asks to represent you to find you a place where he posted.
Sadly, most of the time it's so grey, it's almost impossible to know if it's for real or rogue agents.
When you are 100% sure the rogue agent is baiting you, inform CEA
3) I can rent a place on my own, why do I need agents?
Simple, because we know the law and have the necessary documents to protect you. Are you aware that a E-Stamping is needed? Do you know of the Diplomatic Clause? Are you aware subletting is illegal? Are you aware of your rights to the property? What details are needed in the Tenancy's Covenants to make it worthy?
Plus, do you have the time to go through all the ads, make calls, arrange schedules?