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Simple Timeline for Leasing an HDB Flat

BTO

Ohmyhome

July 26, 2020

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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

Timeline	Steps
Week 1	Step 1: Check your eligibility and set the rental fee. Check if you are eligible to rent out your flat based on your citizenship and your flat’s Minimum Occupation Period (MOP). Verify the HDB Occupancy Cap and the area’s Non-Citizen Quota (if applicable). Determine your desired rental fee. You can compare rental prices on the Ohmyhome app, which is available on the Play Store or App Store.
Weeks 1-2	Step 2: Post your property listing. Check your flat for damages that need to be fixed and improvements that can be made. Take good pictures of your flat to show its best features. Post an ad for your property on the Ohmyhome app. Include high-quality pictures and a detailed description of the property. Use the ShoutOut feature on the Ohmyhome app, which suggests your property to users who are actively searching for a rental home (recommended). Schedule an open house or conduct property viewings (remote or physical).
Weeks 3-5	Step 3: Meet and negotiate with potential tenants. Respond to inquiries through the in-app chat. Check the prospective tenant’s eligibility – the tenant’s citizenship and how long is the tenant intending to stay. Schedule a viewing if requested. Or meet with walk-in inquirers on scheduled open house days. Negotiate with the prospective tenant about the rental price, the rental period, and the good faith deposit. Consider the tenant’s Letter of Intent (LOI) with the good faith deposit and proposed terms. Sign on the Acceptance portion of the LOI if you accept the conditions of the tenant’s offer. Once this is done, you and the tenant may proceed to discuss the terms of the Tenancy Agreement (TA).
Week 6	Step 4: Sign the Tenancy Agreement. Produce the Tenancy Agreement (TA) from the Council for Estate Agencies (CEA). Make sure it contains the stipulations you and the tenant agreed on: agreed rental price, start and end date of the lease, particulars of landlord and tenant/s, number of occupants, the problem-free period, and other agreed terms such as furniture or appliances. Negotiate with the tenant on the inclusion of a diplomatic clause if your tenant is a foreigner working in Singapore. Have the tenant read and study the TA. Sign the TA with the tenant if everything is in order. If you are renting out a whole flat unit, get approval from HDB by applying through the HDB website before the commencement of the tenancy. Pay the $20 administrative fee.
Week 7	Step 5: Hand over your rental unit. Prepare an inventory list of all the items in the flat. Meet with the tenant and inspect the property based on the inventory list that you have prepared. Both you and the tenant should sign the inventory list, with each keeping a copy. Hand over the keys to the tenant. Collect the first month’s rent from the tenant.
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. Receive reports of damaged items from the tenant, if any. You should rectify or replace the damaged items free of charge within the agreed problem-free period. However, items damaged due to negligence are not covered by this problem-free period, in which case the repairs or replacement have to be shouldered by the tenant.