| Singapore has an active rental market given the high number of foreigners who work and study in the country. Property investors have a wide selection of professional real estate agents to handle the leasing of their properties. The agent's commission is paid by both the tenant and the landlord. The standard commission is one month’s rent for every 12-month lease term. The term of lease typically range from 12 to 24 months, with an option to renew upon expiry of lease. A deposit of one month is required for every 12-month lease term. This amount will be refunded to the tenant at the end of the lease term subject to the apartment being returned in good condition. When a unit is leased out, a Letter of Intent and Tenancy Agreement is signed by the tenant and landlord. The terms and conditions of lease are stated in this agreement. |