Your search results

How to Avoid Forfeiting Your Security Deposit: A Guide to Your Rental Property

Posted by Jayson Ang on July 30, 2023

| 0

TLDR

When bidding farewell to your rented property, ensure the safe return of your security deposit by:

Regular Aircon Servicing: Schedule quarterly maintenance to prevent unexpected expenses.

Joint Inspections: Conduct walkthroughs with your landlord at the start and end of your tenancy to document any damages.

Source Your Own Services: Arrange for repairs and cleaning independently to avoid unnecessary deductions from your deposit.

These techniques can help you avoid disputes and secure the full return of your security deposit.

Picture this: You’re a tenant, and your lease is up. After months of relentless hunting, you’ve finally found a new home sweet home.

You’ve had countless sleepless nights, pondering the pros and cons of each property. You’ve meticulously packed every item your family has amassed over the years, and you’ve hired a team of movers, cleaners, and handyfolk to ensure a smooth transition.

You’ve gone above and beyond to restore the rental to pristine condition. But then, like a vulture swooping in to claim its prey, the agent or landlord shows up, scrutinizing every nook and cranny.

They demand a hefty cut of your deposit, leaving you feeling violated and utterly hopeless. Or worse yet, they greedily snatch the entire sum, leaving you reeling with shock and despair.

WOW!

Handovers always make me feel uneasy. I’ve had friends who have fallen victim to it, and unfortunately, I have too. It seems like horror stories of owners making outrageous demands and holding deposits hostage are becoming more common. And with ambiguous phrases like “fair wear and tear” and “reasonable use,” it’s a challenge to prevent the owner from sticking you with an unfair bill (seriously, I’m not buying you a brand new aircon). Nobody wants to deal with the headache of hiring a lawyer and dragging the case to Small Claims Tribunals. So, how do we avoid this dreaded scenario?

Discover the 3 techniques to guarantee the safe return of your security deposit with these three savvy suggestions:

1. Schedule Regular Aircon Servicing And Keep Those Receipts!

As a tenant, it’s crucial to note that a majority of landlords emphasize the need to regularly service all air conditioning units in your apartment every three months – that’s four times annually. Nevertheless, failing to schedule these maintenance appointments beforehand can lead to forgetfulness, which may seem harmless at first but could later become a costly mistake. So, be wary – procrastination could ultimately come back to haunt you!

Should any malfunction occur with your air-conditioning system and you fail to provide substantial evidence of regular maintenance as per the contractual agreement, the landlord reserves the right to hold you accountable for any damages and demand remuneration for significant repairs post your tenancy.

Make it a habit to hold onto the receipts every time you have your air-conditioning units serviced. And trust me, it’s crucial to keep them safe as you never know when you’ll need to showcase them to your landlord upon moving out. I learned this lesson the hard way when I had to frantically reach out to every technician who serviced our aircons and beg for electronic copies. A complete nightmare and a colossal waste of time!

2. Carry Out Joint Inspections With Your Landlord And/Or Their Agent

You’ll want to keep this in mind for not just one, but two distinctive moments: the day you first step foot in your new abode and the day you bid it adieu. It’s a common practice to make note of any blemishes, troubles, or imperfections at the beginning of your tenancy. However, it’s imperative that you schedule a final walkthrough with your landlord or their representative after your lease expires. This will prevent them from roaming around the empty space solo, post-departure.

To ensure a smooth and stress-free move-in and move-out process, it is highly recommended to snap some shots of your new abode and have the landlord pen down any pre-existing damages on paper. By doing so, you can avoid any future disputes and have a solid reference to fall back on. It’s crucial to get this done in person to eliminate any miscommunication and establish a mutual understanding of your responsibilities. Trust us, resolving issues over the phone can be a never-ending labyrinth.

3. Source Your Own Repairmen/Cleaning Services

When your lease draws to a close and repairs or maintenance are required, beware! If you opt to leave the responsibility in your landlord’s hands, any expenses for repairs or cleaning will be deducted from your security deposit. Brace yourself, as this gives your landlord free rein to summon an extravagant cleaner or repairman at your expense!

Why not take matters into your own hands and tackle those repairs yourself? You can handpick the contractors of your choice, after a little extra legwork and research. It’s time well spent, as you’ll be certain to snag a fair price. Before the keys are officially handed over, arrange for the landlord or their agent to swing by and identify any lingering issues. This ensures that your full deposit will be promptly returned to you.

As you prepare to bid adieu to your old place, it’s wise to call in the pros for one last sweep. Yes, it may cost a bit more, but it pays off big time in terms of hassle-free moving. Of course, we’re not oblivious to the fact that even if you’ve dotted every i and crossed every t, some landlords can be downright devious, making your life a living hell. If you find yourself in such a predicament, don’t hesitate to take legal action and reclaim what’s rightfully yours.

Should You Buy, Sell or Wait?

If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?

It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.

I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.

I can help you by:

Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.

You May Also Like …

Mandarin Top 5

Top 5 Seafood Restaurants in Singapore

Jayson Ang – April 3, 2024 –

Singapore, a melting pot of cultures and culinary delights, is well-known for its diverse food scene. With its strategic location...

Mandarin Top 5

Top 5 Rooftop Pools in Singapore for a Swim

Jayson Ang – March 30, 2024 –

Singapore, a bustling city-state known for its iconic skyline and innovative architecture, is home to some of the most stunning...

All Blog Posts Buying Tips

Avoid The Possibility Of Negative Cash Sales: Find Out How Much Your HDB Has To Appreciate To Steer Clear Of It!

Jayson Ang – January 31, 2023 –

TLDR When selling your property, watch out for negative cash sales that could leave you with no money after CPF...

Mandarin Top 5

The Psychology of Property Investing: 5 Reasons Why Singaporeans Love Real Estate

Jayson Ang – May 4, 2024 –

Real estate investing has always been a popular way to grow wealth and secure financial stability. In Singapore, the love...

All Blog Posts Buying Tips

Subscribe to Jayson Ang’s Singapore Property Newsletter

Jayson Ang – December 27, 2022 –

TLDR Jayson Ang's Singapore Property Newsletter offers valuable insights on real estate investments, market trends, and expert advice. The newsletters...

Mandarin Top 5

Top 5 Tips : Finding the Right Property: Location, Size, and Price in Singapore Real Estate

Jayson Ang – November 5, 2024 –

Singapore, known for its diverse culture, strong economy, and excellent infrastructure, is a popular destination for real estate investments. The...

All Opinion Selling Tips

When will En-Bloc set to Become Reality Beyond 2023?

Jayson Ang – November 24, 2023 –

TLDR The real estate market is experiencing a lull in en-bloc activities due to various factors. Higher Additional Buyer’s Stamp...

Mandarin Top 5

Top 5 Tips for First-Time Chinese Buyers Looking to Invest in Singapore Today

Jayson Ang – May 31, 2023 –

Top 5 Tips for First-Time Chinese Buyers Looking to Invest in Singapore Today Here are the top 5 tips for...

All Blog Posts Buying Tips Opinion

How Can You Prepare for Retirement in an Expensive Real Estate Market? Discover Your Options Now!

Jayson Ang – June 30, 2023 –

TLDR The article discusses the challenges of investing in a second property for retirement amidst Singapore's real estate market conditions....

Mandarin Top 5

Top 5 Scenic Drives in Singapore

Jayson Ang – June 4, 2024 –

Singapore, a small yet bustling city-state, is well-known for its impressive skyline, diverse culture, and delicious food. However, not many...

All Blog Posts Buying Tips

Step-By-Step Guide To Buy Resale HDB (Updated March 2023)

Jayson Ang – July 13, 2023 –

TLDR The process of purchasing a resale HDB flat involves steps such as checking eligibility, calculating affordability, registering intent to...

All Blog Posts Buying Tips

Discover What Else You Can Focus On Beyond PSF – Here’s How!

Jayson Ang – July 17, 2023 –

TLDR When considering real estate investments, factors like property size, location, and PSF play crucial roles in determining affordability. Smaller...

All Buying Tips Opinion Selling Tips

Market Mistakes in Property Investment: Key Lessons and Strategies for Success

Jayson Ang – July 16, 2024 –

TLDR In property investment, common mistakes include lack of research, overleveraging, and neglecting due diligence. To succeed, conduct thorough market...

Mandarin Top 5

5 Singapore’s Best Property Investments for 2023: Where to Find Growth and Income

Jayson Ang – March 20, 2024 –

The Singapore property market has long been a sought-after investment destination, with its stable economy and growing population making it...

Mandarin Top 5

Top 5 Places to Learn About Singapore’s History

Jayson Ang – August 9, 2024 –

Singapore, a thriving metropolis with a rich history and diverse cultural heritage, offers numerous opportunities for visitors and locals alike...

All Buying Tips Opinion

5 Unexpected Factors That Make Some New Launch Condos Sell Like Hotcakes

Jayson Ang – August 9, 2024 –

TLDR The Singapore property market for new condo launches in 2023 saw varying degrees of success. Factors like limited competition,...

All Blog Posts Buying Tips

Avoid These 6 Terrible Property “Tips” in Singapore

Jayson Ang – May 1, 2023 –

TLDR When it comes to property advice, it's crucial to be cautious of common misconceptions. For instance, schemes like the...

All

Find Your Dream Home: Top 5 Property Investments for Families in Singapore

Jayson Ang – March 22, 2024 –

As one of the most prosperous countries in the world, Singapore is an attractive destination for families looking to invest...

All Buying Tips Opinion

Unlock the Secrets of Property Investment and Transform Your Financial Future!

Jayson Ang – September 30, 2024 –

TLDR The Singapore property market has experienced fluctuations, impacting private home prices. Understanding your financial capacity is crucial when considering...