After a certain point in our lives—mainly when our careers stabilise and our savings increase, we often look to improve our quality of life. This usually means getting your own home, or if you already have one, upgrading it. Having a comfortable living space to unwind after a long day, or to enjoy your retirement years, is one of the many joys of life. Whether you are a senior citizen looking to reap the rewards of a fulfilling career or an established businessperson looking to give your family a better quality of life, there are many reasons to rent a temporary or long-term accommodation like a serviced apartment.

Regardless, there are several things you will need to bear in mind before signing your contract. Here are some examples.

Lease Periods and Typical Contract Terms

One of the first considerations you should already have an idea of is — how long you are planning to rent an apartment for. Typically, a lease term is between one to two years and landlords would love for prospective tenants have an extended tenure, so if you plan on renting for a longer period, you might wish to express that to your landlord to potentially lower the overall cost. Conversely, if you are only looking for a short stay at an apartment, you should consider serviced apartments instead as some options, like Great World Serviced Apartments, do accommodate short-term stays from as little as 6 nights.

After determining your length of stay, be sure to scrutinise the contract terms and understand the respective rights and responsibilities of the tenant and the landlord, as well as any hidden costs involved. If you are renting an HDB apartment, ensure that the landlord is eligible to rent it out in the first place.

Residential Area

In the past, the primary factor guiding our apartment rental decisions has always been location, location, location. Today, that remains unchanged.

Some provocative questions you may have include:

• Is public transportation like the MRT & bus stops easily accessible?
• Is your workplace nearby?
• Are there amenities like malls, schools, and clinics?
• Are you looking to live in a young, vibrant neighbourhood, or are you seeking a slice of tranquillity?

Depending on your priorities and budget, these considerations will help your decision-making process.

Typical Rent Prices in Singapore

To ensure that you have enough savings to fund your lifestyle and other aspects of your life, your rental budget should be about As rent prices vary according to the location of the apartments, you should do your research and find out how much you are expected to pay for your future apartment. However, if you are willing to spend a little more for extra comfort and better amenities, serviced apartments with full service or even a penthouse for rent in Singapore could be great options as they are usually well furnished and come with a full range of amenities and services to make your stay even more comfortable.

Renting with An Agent

Renting accommodation can sometimes seem like a daunting endeavour. If you find yourself overwhelmed with a sudden influx of information, you could hire a property agent with extensive experience in the industry to alleviate your worries. Of course, you will also need to pay a commission for their services; the standard rate is 50% of your first month’s rent for a minimum one-year lease. Alternatively, you could also consider renting a serviced residence in Singapore as an easier alternative instead, as there are no complicated contractual terms involved, and certainly no need for a housing agent either as the rental process is done directly.

Residential Types

There are many rental options in the market today to meet different requirements. Even if you are on a smaller budget, you are not necessarily restricted to HDB apartments. For instance, if you are looking to rent with other friends, it is perfectly plausible to pool your cash and rent a serviced apartment in Singapore, a condominium or even a landed property. Given the circumstances, you need to understand your needs and aspirations, and then make a clear plan in deciding the right apartment for you after factoring in all the considerations.

Looking for a seamless rental experience? Consider Great World Serviced Apartments as your home away from home, strategically located in Central Singapore. Our furnished apartments and flexible leases allow you to jump right into your new cosy abode without a worry in the world. To learn more about our apartments and services, please contact us today.