Renting a room in Singapore is often an attractive option for people looking to live independently while remaining cost-conscious. However, it’s important to factor in the costs of renting a room before taking the plunge. This article analyzes how much you can expect to pay as a renter in various types of rentals such as furnished, unfurnished, and shared accommodation. You will also learn about common costs associated with renting a room outside your primary residence, including maintenance fees and tenancy costs.
How Much Does It Cost to Rent a Room in Singapore?
The cost of renting a room in Singapore can vary depending on the type of rental property you choose, how many people are sharing the rental, how long you stay, and if you are a tenant of private property. For example, furnished rentals tend to be more expensive compared to unfurnished rentals. This is because the rental price typically includes furniture, appliances, and other items that make the rental feel like a home. Furthermore, some landlords may charge an additional “maintenance fee” each month that covers routine maintenance of the property, such as repairs made by the landlord. This may increase the cost of renting a room in Singapore.
Rental price in Singapore
The rental price for a room in Singapore is typically between SGD 400 (sqft) and SGD 600 (sqft), depending on the area where you live. In some low-cost residential areas, you can rent a room for as low as SGD 150 (sqft) per month. Private landlords typically charge a higher rental price than government-run housing estates. This is because private landlords usually have higher overhead costs related to managing properties, such as managing maintenance issues, hiring staff, and advertising rental units.
Factors Affecting the Cost of Renting in Singapore
There are a number of factors that affect the cost of renting a room in Singapore. One of the most important factors is the type of rental property you choose. Different types of rentals have different costs associated with them. For example, shared accommodation is the cheapest, while renting a furnished room is the most expensive. Another important factor affecting the cost of renting a room is the size of your rental unit. The larger the size of the rental unit, the lower the monthly rental price will be.
Procedures when renting a room or home in Singapore
Singaporean nationals can list a room in their details on a website like Airbnb or Uniqlo Rooms.com to receive guests. However, you will need to register as a guest first and provide your Singaporean identification number before you start receiving guests. If you choose to list a room in a private house or flat, you will usually need to get permission from the owner.
You can also rent a room in shared accommodation like a hostel, hotel, or serviced apartment. This is because it is illegal to let a room be on private property without the permission of the owner. In many cases, you will need to sign a tenancy agreement with the landlord or manager. This agreement usually details the terms and conditions of renting a room or home, such as the length of the tenancy, payment schedule, and who is responsible for repairs.
Which Area Is The Cheapest?
The most affordable area to rent a room in is in the Central area, followed by the East and the North areas. However, this does not mean that the Central area is the only place where you can afford to rent a room. The Central area may be the most affordable, but it’s also the most expensive area in terms of renting a room. This is because the cost of living in this area is also the highest, making it the most expensive place to buy groceries, books, clothes, and other daily essentials. Another important factor to keep in mind is the type of lifestyle you want to live. If you want to live in a less expensive area that still allows you to save money on daily expenses, then you should consider the Central area.
Furnished Room Rentals
Furnished room rentals cost between SGD 550 and $750 per month, depending on the size of the room and the condition of the furniture. One important thing to note about renting a room furnished is that you will have to clean the room before each guest. You can either rent a maid service to clean the room for you or get a cleaning service from a company like Tasktop to make cleaning your rental room part of your daily routine.
Unfurnished Room Rentals
Unfurnished rentals cost between SGD 450 and $550 per month. However, you may be able to negotiate the rental price by offering to bring your bed, couch, table, and chairs.
Shared Accommodation
Shared accommodations like hostels, hotels, and serviced apartments cost between $400 and $600 per month. Although you will have to share a room with other people, you will get a fully cooked meal and a bed to sleep in every night. You can also choose to stay in a private room if you want more privacy.
Maintenance Fees
Most landlords will charge you a monthly maintenance fee of between SGD $100 to $200. This includes fees such as water and electricity bills, in addition to maintaining the structure of the building. In some cases, the landlord may also charge a one-time construction fee. This will be specified in the rental agreement and is often used to cover the cost of building work.
Tenancy Costs
Tenancy costs typically cover services provided by a property manager, such as maintenance issues, repairing defects in the property, maintaining the unit, and collecting rent from tenants. You may have to pay as much as 10% of the rent if you don’t use a property manager. However, there is no set standard for what constitutes “use” of a property manager, so you will have to check with your landlord or agent.
Conclusion
The cost of renting a room in Singapore can range from as low as $450 to more than $2,000 per month, depending on the type of rental property you choose, how many people are sharing the rental, how long you stay, and if you are a tenant of private property. If you want to rent a room in shared accommodation, like a hostel or serviced apartment, you should expect to pay between $400 and $600 per month.
If you want to rent a room in a private house or flat, you should expect to pay between $550 and $750 per month. The most affordable areas to rent a room are in the Central area, followed by the East and North areas. Ideally, you should take a look at the rental listings in each of these areas and decide which one best suits your budget and lifestyle.