This is a brief introduction to some of the considerations of the rental contract in Singapore.
Singapore Stamp Duty is a tax levied on all kinds of taxable documents in Singapore. The scope of the tax includes all kinds of commercial and legal documents, bills, securities, etc.
The purpose of this tax is to legalize the contract between the landlord and the tenant so that it can be used as legal evidence in court in case something happens later.
Leasehold stamp duty is paid by the tenant who rents the whole house, 0.4% per month for contracts less than 4 years.
This fee is paid in a lump sum according to the lease term signed for the house when the contract is signed before moving in.
For example, if a house is rented for S$5,000 per month, the stamp duty payable after one year of contract is S$5,000*12*0.4% = S$240.
Currently, due to the shortage of housing in Singapore, most landlords of whole house rentals are offering 2 year leases.
If the lease is for 2 years and after 12 months, the tenant cannot live or work in Singapore due to various reasons and needs to leave Singapore for another country, then the tenant can legally terminate the lease with 2 months notice to the landlord.
However, in that case, the rent will be at least 14 months.
If the landlord is paying the agency fee for the entire rental, the tenant will also have to compensate the landlord for the agency fee for those months of non-occupancy.
Service of action
Singapore is located in the equatorial region and air conditioning is a daily necessity.
Tenants need to have their air conditioners cleaned regularly, once a quarter.
If there is a problem with the air conditioner when you check out and the tenant issues a receipt for regular cleaning, then the tenant is not responsible for the cost of repairing the air conditioner.
On the contrary, if the tenant does not clean the air conditioner regularly, the tenant will be responsible for the cost of repairing the air conditioner.