Property search |
The first step is to search for a property that meets your requirements and budget. You can use online property portals or engage a property agent to help you with your search. |
Property viewing |
Once you have shortlisted a few properties, you can arrange for property viewings to get a better idea of the property's condition and suitability. |
Offer and negotiation |
If you’ve found the property that you like, you can make an offer (LOI) to the landlord. Note that the LOI is not the legally binding document; that would be the Tenancy Agreement (TA). The landlord may accept your offer or negotiate the terms of the tenancy agreement. |
Tenancy agreement |
Once the terms have been agreed upon, a tenancy agreement will be drafted and signed by both parties. The tenancy agreement outlines the terms and conditions of the tenancy, such as the rental amount, payment terms, and duration of the tenancy. |
Security deposit and stamp duty |
Before moving in, you will need to pay a security deposit, which is usually equivalent to one or two months' rent. You will also need to pay stamp duty, which is a tax on the tenancy agreement. |
Move-in inspection |
Before moving in, you should conduct a move-in inspection to document the condition of the property and any existing defects. |
Rent payment and maintenance |
During the tenancy, you will need to pay rent on time and maintain the property in good condition. |
Move-out inspection |
When the tenancy ends, you should conduct a move-out inspection to document the condition of the property and any damages. The security deposit will be returned to you after deducting any outstanding rent or damages. |