If you’re renting a co-living apartment for the first time in Singapore, be sure to plan ahead. Details matter and budget wisely before signing the lease.
Looking for a co-living property to rent can be exciting but stressful, especially if you have no experience with the process. With strong demand for rental properties in Singapore, first-time renters may feel pressured to sign a lease quickly. But it pays to do your homework. So, check out these tips to ensure that you’re securing the right unit for you.
If you’ve had your heart set on living in a co-living apartment, start by researching co-living operators and units in your desired location. Look for operators with a positive reputation and which possess a sound track record of managing co-living properties. Check out reviews and visit their website for an insight into their processes, terms and conditions, and ethos.
2. Set a realistic budget
Renting will take up a large portion of your monthly expenses, so make sure you have a clear and realistic budget from the outset. Renting a room in a co-living may make more sense than renting an entire apartment. Co-living spaces have an all-inclusive model, which not only covers the monthly rental but also includes housekeeping, wifi and utilities. Ensure that you have the financial capabilities to cover your monthly rental.
3. Visit the co-living space
It’s always a good idea to schedule a visit to the co-living space before committing. This will give you a chance to assess the cleanliness, comfort, and overall vibe of the environment. You might also be able to meet potential housemates or the community during your visit, and this can help you to make an informed decision.
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4. Thoroughly check the lease clauses
Once you’ve decided to go through with a lease, it’s time to get in touch with the property agent and sign the letter of intent. You’ll then need to go through the remaining steps of the renting process and sign the Tenancy Agreement to secure your room.
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Before signing the Tenancy Agreement, pay special attention to the various clauses. In particular, make sure you understand important information such as the lease duration, house rules, security deposit, and notice of termination. If you need any clarification, be sure to follow up with the co-living operator or landlord to ensure you’re comfortable with all aspects before singing.
5. Bring only your essentials
Co-living units are move-in ready and fully furnished. So, you won’t have to bring much. Focus only bringing personal items, essentials and anything specific that may not be provided.
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6. Embrace the co-living lifestyle
Lastly, embrace the co-living lifestyle with an open mind. Be prepared to enjoy the social connections associated with co-living contribute positively to a shared living experience.
By following the above tips, you’ll be well-prepared for your first co-living experience. Need help in finding a co-living unit? Explore our spaces now.