Rental questions

[jon00]

Make sure you include a witness from both parties during the signing of the new agreement. The top up of deposit can be made anytime but no harm requesting during the signing of the new agreement.

Stamping can be done at IRAS. It can be done through online kiosk in revenue house with the help from the officer there. You need original and duplicate. All can be done at the same time at the kiosk. After getting the printout, you can give a duplicate copy to the tenant and have them reimburse you. Stamping fees and duty calculation can be found http://www.iras.gov.sg/irasHome/page04.aspx?id=8568

MMM:

Once this is done, I suppose my next step is as follows : (need help on this )
* We sign the agreement and probably meet up with them so that they can sign at their end
* During this meeting, they should provide us with the cheque for the top up in deposit - Correct???
* After this, we will send it for stamping.
* What must we do for stamping???? I assume we will need to pay the stamp duty for them first and seek a reimbursement. Does that mean we need to stamp original and duplicate??? The stamping fee is quite \"cheap\" right? For 4 years lease, something like $4???
* Can we do pay the stamp duty + do the stamping in a single location and within the same day???? Someone pls help share the experience for this.
* Once this is done, we just send a copy to them then I assume everything is completed.

[MMM]

jon00:

Stamping can be done at IRAS. It can be done through online kiosk in revenue house with the help from the officer there. You need original and duplicate. All can be done at the same time at the kiosk. After getting the printout, you can give a duplicate copy to the tenant and have them reimburse you. Stamping fees and duty calculation can be found http://www.iras.gov.sg/irasHome/page04.aspx?id=8568

Can you pls clarify on the \"original and duplicate\"?

We need to stamp 2 copies for the tenancy right?

Also, if I am paying the stamp duty on their behalf first, do I need to show any other documents besides tenancy? Do I need their co. ROC, etc.... I hope not.

So from process flow, I pay the stamp duty at IRAS, then get doc stamp?

[lim72]

From my experience , tenants will estamp the signed agreement & pay about $220 for 2year lease and forward a copy to landlord.

[verykiasu2010]

yes the estamp is done over internet, just print the copy of stamp duty paid with unique ref numer … any number of copies if you saved that into pdf file


the stamp duty is borne by tenant

stamp duty is a form of taxation

[fightingmom]

lim72:

From my experience , tenants will estamp the signed agreement & pay about $220 for 2year lease and forward a copy to landlord.

Huh ? Sorry , have to disagree with you regarding the stamp fee amount. If the rental amount is $5000 for a two year lease, the stamp duty fee should work out to be $480 compared to a rental amount of $2290 - stamp duty fee is $220.

I believe someone posted the calculation in the earlier post.

[MMM]

Based on my understanding, there are 2 levels that are payable by tenant :

* Stamp duty - computed based on rental value and tenure. In our case, this works out to be around $700. I used the IRAS calculator.

* Stamping fee - my impression is that this is cheap eg. $2 for 2 years, etc... - but it appear that for this we need to stamp original and duplicate. I assume the purpose is so that the tenant and landlord each has a copy :?

I think I am :imdrowning: :? . Unclear how the process works.
Eg. must the stamp duty be paid, before we can stamp the documents?

Or it is a separate process.

My tenant told me that they did the stamp duty thingy via internet previously. So does that mean everything can be done online and tenant does it.

Wondering if we've any housing agent parents here who are familiar with the process.

Just want to make sure we do not miss out any important process as I think we are obligated to have everything stamp within 14 days.

[MMM]

MMM:

Based on my understanding, there are 2 levels that are payable by tenant :

* Stamp duty - computed based on rental value and tenure. In our case, this works out to be around $700. I used the IRAS calculator.

* Stamping fee - my impression is that this is cheap eg. $2 for 2 years, etc... - but it appear that for this we need to stamp original and duplicate. I assume the purpose is so that the tenant and landlord each has a copy :?

I think I was indeed confused. When I read the IRAS site further, yes there is only the stamp duty. The $2 and $4 I mentioned was part of the duty computation.

My tenant's finance department said they have paid the stamp duty via internet 2 years back. So I am asking them to do the estamping and then send us a copy of the of stamped document for our record. I hope we've that covered then....

So we've aligned on the tenure and amount. They have seen the revised contract. So now just the signing off and followed by stamping. That's all right???? Did I miss out anything?

[jon00]

Hi MMM,

The whole process is very straight forward via the Internet (kiosk in revenue house). If I remembered correctly, you need to choose if you need a duplicate in the system. Once you entered all the information needed by the system (i.e main tenant name and identification number, period of tenancy , rental per monthetc), the certificate of stamp duty (with an estamp) will be printed out on the spot. The system will calculate the stamp duty required for payment.

I remembered I got it done in less than 10mins with the help of the officer there. That was more than a year ago.

MMM:

jon00:

Stamping can be done at IRAS. It can be done through online kiosk in revenue house with the help from the officer there. You need original and duplicate. All can be done at the same time at the kiosk. After getting the printout, you can give a duplicate copy to the tenant and have them reimburse you. Stamping fees and duty calculation can be found http://www.iras.gov.sg/irasHome/page04.aspx?id=8568

Can you pls clarify on the \"original and duplicate\"?

We need to stamp 2 copies for the tenancy right?

Also, if I am paying the stamp duty on their behalf first, do I need to show any other documents besides tenancy? Do I need their co. ROC, etc.... I hope not.

So from process flow, I pay the stamp duty at IRAS, then get doc stamp?

[Castle House]

Check…


1. All lease agreement need to be stamped regardless renting out the whole unit or room?

2. Do we apply the tenants with HDB first or get ready all documents?

3. How do we determine the cost of the furniture etc for the purpose of the stamp duty? Or we just key in lump sum.?

[lim72]

fightingmom:

lim72:

From my experience , tenants will estamp the signed agreement & pay about $220 for 2year lease and forward a copy to landlord.

Huh ? Sorry , have to disagree with you regarding the stamp fee amount. If the rental amount is $5000 for a two year lease, the stamp duty fee should work out to be $480 compared to a rental amount of $2290 - stamp duty fee is $220.

I believe someone posted the calculation in the earlier post.

My mistake that I did not mention this amount is based on rental of $2300 and excluding gst. Fine?