# Singapore rent - Bond?



## CadLawyer (Jan 7, 2018)

Hi guy - i'm thinking of accepting an offer with Singapore company. i might have a bunch of other questions later, but for now, I've been looking at potential rentals in the city. 

Interestingly, i don't see any mention of bonds or deposits anywhere. How do payments usually work (the flats i'm looking into are generally fully furnished)?


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## BryanChan (May 5, 2018)

hi CadLawyer, 

Are you looking for a room rental or a flat rental? 

Normally you would required to sign up for 1 to 2 years contract for rental. Upon sign up the contract, you will required to pay upfront 1st month rental + 1 month deposit. 

Of course there is no fix rule, just discuss with the owner/agent and negotiate on the terms. 

Hope it helps.


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## CadLawyer (Jan 7, 2018)

Hey BryanChan, yes, I’m planning on renting a flat. Most of the ones I have seen require a 2 years lease. So on a $5,000 per month rent, i will be paying $10,000 on signature, $5,000 of which is a deposit to be reimbursed upon termination of the lease. Correct?


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## Section 8 (Aug 15, 2010)

CadLawyer said:


> Hey BryanChan, yes, I’m planning on renting a flat. Most of the ones I have seen require a 2 years lease. So on a $5,000 per month rent, i will be paying $10,000 on signature, $5,000 of which is a deposit to be reimbursed upon termination of the lease. Correct?
> 
> 
> Sent from my iPhone using Tapatalk


Hi there! Yeah, thats correct. That was how my lease was structured as well. Word of advice, have your agent insert what is called a "diplomatic clause" into your contract. This will relatively let you off the hook should the worst happen and you lose your job. For Singapore, if you lose your job, you have 3 weeks to get a new one, otherwise you will be deported. You do not want to be in the situation where you are left with 1 year left on your lease and be forced to pay rental for something you are not even using anymore.


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## CadLawyer (Jan 7, 2018)

Section 8 said:


> Hi there! Yeah, thats correct. That was how my lease was structured as well. Word of advice, have your agent insert what is called a "diplomatic clause" into your contract. This will relatively let you off the hook should the worst happen and you lose your job. For Singapore, if you lose your job, you have 3 weeks to get a new one, otherwise you will be deported. You do not want to be in the situation where you are left with 1 year left on your lease and be forced to pay rental for something you are not even using anymore.




Interestingly, I have been told I need to pay 2 months rent as security deposit plus the first month. That’s $15,000 on a $5,000 rent....ouch!!!


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## CadLawyer (Jan 7, 2018)

Section 8 said:


> Hi there! Yeah, thats correct. That was how my lease was structured as well. Word of advice, have your agent insert what is called a "diplomatic clause" into your contract. This will relatively let you off the hook should the worst happen and you lose your job. For Singapore, if you lose your job, you have 3 weeks to get a new one, otherwise you will be deported. You do not want to be in the situation where you are left with 1 year left on your lease and be forced to pay rental for something you are not even using anymore.




BTW, thanks for the advice on the diplomatic clause. I will try this out.


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## abhic (Aug 25, 2019)

CadLawyer said:


> BTW, thanks for the advice on the diplomatic clause. I will try this out.


How'd it work out?


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## navis59 (Oct 29, 2019)

Generally the security deposit is 2 months for 2 year lease.

For the diplomatic clause which usually only in place for 2 year lease, you can activate the clause after a min stay of 12 months. After which you can serve 2 month notice. So total min stay is 14 months. You can only activate this if you have to move out of Singapore eg work contract terminated prematurely. There is usually a penalty, which is to reimburse the landlord the prorated 1 month commission he paid to his agent


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