… or maximise what they’re already paying.
After months of searching, you’ve finally found the place. It’s new and modern. It’s spacious. And it’s also near the MRT.
But here’s the downside: it’s out of your budget.
Don’t let go of this listing just yet, though. There are a few ways to go around this. Here are six clever things tenants should ask landlords so they can snag the perfect home and still save money.
Implement a friend referral scheme
If you are renting, chances are you have friends who do, too. If your landlord has additional units or rooms to fill, refer your friend and ask for a discount – such as a 10 per cent discount for the next three months. You’ll be killing three birds with one stone: you’ll save on rent, your friend gets a home, and you’ll make your landlord very happy!
Extend your lease for cheaper rent
For landlords, it’s much easier to keep a tenant than finding a new one. Plus, landlords need to pay agent’s commission for every new tenant signed. Therein lies your bargaining chip. If you feel you’ve been a great tenant, try requesting for a discounted rent when you renew your lease. Alternatively, new tenants can get landlords to agree not to raise the rent during lease renewal. Be sure to get this in writing in the Tenant’s Agreement.
Compare against other rental units around the area
Think your landlord is ripping you off? Have a peace of mind and possibly get a more affordable rent by researching other units. If you use an app like 99’s, it’s easy to find similar listings in the surrounding area. Find a cheaper one and ask your potential landlord to match the price.
Tell him you’re not paying rental deposits
We’re not joking. In Singapore, tenants are usually asked to put down a hefty two-months rental deposit. Luckily, there are services that help you avoid that. Sing-Guarantee, for one, will pay your landlord the security deposit on your behalf while still giving landlords the security they need. Tenants have to pay an annual fee for this service, but it’s much cheaper than two months’ rent.
Make sure the landlord covers basic essentials
Instead of getting discounts, how about useful items that will make your new home a more conducive and cosy place to live in? Start with basics like the security pass for condominiums as well as complimentary Wi-Fi. You can also ask for things like cleaning supplies, a study desk, a bigger dining room table, or floor fans. Landlords are more likely to provide items that the next tenant can use.
Tell him what else Sing-Guarantee offers
Apart from issuing rental deposits (these are called Sing-Security Deposits), landlords and tenants who sign with Sing-Guarantee can also enjoy benefits like a move-in/move-out inspection check, free videos, and a thorough condition report – all of this can be used to protect tenant and landlord from disputes. There’s also the additional option of home accidental damage insurance. Once you introduce the hassle-free ways of Sing-Guarantee to your landlord, he can use it for other tenants too. Hopefully, this will translate to cheaper rent.
BONUS MONEY-SAVING TIP: Sing-Guarantee is offering 35 per cent of all first year fees – regardless of lease duration or whether it is a room or whole unit rental.
Brought to you by Sing-Guarantee.
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