The important things that a landlord should be aware of when renting out a residential property in Singapore would include, and not limited to the following:
Verify Ownership of property
Be aware that you are the owner or part owner of the property to be rented.
Understand your responsibilities
Be aware of the legal implications and obligations concerning the terms and conditions of rental.
Have a Tenancy Agreement (TA)
Be aware that you need to have a TA before you rent the premises. The terms and conditions of rental should be fair to you and to the tenants. The items to be included in the tenancy should be spelled out clearly in the list of Inventory to be included in the TA.
Security Deposit
Be aware that you need to collect a security deposit from the tenant to defray your losses in the case when the tenant fails to meet the terms and conditions of the TA. The Deposit should be refunded to the tenant when the TA is successfully ended.
Regular inspections of the premises
Be aware that you have the rights to regularly check on the premises to ensure proper use of the premises by the tenant.
Please note that the above points are not exhaustive and it would be in your interests to seek advice from your estate agent before you rent out your residential property.
For more information please
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