Renting a condo in Singapore takes more cash up front than many people expect. Here is a worked example for a rent of S$5,000 a month, based on common practice; the LOI and tenancy agreement set the final terms.
With the LOI: good-faith deposit
When you sign the letter of intent (LOI), you pay a good-faith deposit, usually one month's rent: S$5,000. Once the owner accepts, it becomes part of the security deposit.
When you sign the lease: deposit and first month
The security deposit is usually one month's rent per year of lease. For one year, that is S$5,000 plus the first month's rent of S$5,000: S$10,000 in total, including the good-faith deposit. For two years, the deposit is two months (S$10,000), so S$15,000 in total.
| Lease | Deposit | First month | Total at signing |
|---|---|---|---|
| 1 year | S$5,000 | S$5,000 | S$10,000 |
| 2 years | S$10,000 | S$5,000 | S$15,000 |
Around move-in: utilities and internet
Utilities are usually opened in the tenant's name, and a deposit may be needed; internet is set up with a provider of your choice. These depend on your situation, and we will walk you through them before you move in.
The Rents page has a calculator: enter the rent and lease length to see the total you pay when you sign.
