Thinking of renting out your flat? Are you thinking of leveraging the value of your flat because of its good location? Whatever your reason, renting out a flat in Singapore is pretty easy.
How much time does it take to find a tenant for a rental flat?
From the moment you decide to rent out your flat, it will only take you around seven weeks before you hand over the keys of your flat to your new tenant. The challenge is to find someone to rent your property and agree with that prospective tenant on the tenancy terms.
To make it easier for you to follow the steps in renting out your HDB flat, we’ve prepared an easy-to-follow timeline of the renting process.
HDB Rental Procedure: Landlord’s Timeline
|Week 1|| Step 1: Check your eligibility and set the rental fee.
|Weeks 1-2|| Step 2: Post your property listing.
|Weeks 3-5||Step 3: Meet and negotiate with potential tenants.
|Week 6||Step 4: Sign the Tenancy Agreement.
|Week 7||Step 5: Hand over your rental unit.
||One month upon moving in, based on what was agreed on in the TA||Step 6: Repair or replace defective items, if any, during the problem-free period.