Rental questions
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Pls advise if there is no agent involved, can I ask the tenant to pay for the stamp duty?
How to calculate this stamp duty? -
Castle House:
You can state in the lease agreement that the stamp duty + duplicate will be paid by the tenant. In the absence of it being contactually agreed, the Stamp Duties Act provides that it will be paid by the tenant and the duplicate to be paid by the landlord.Pls advise if there is no agent involved, can I ask the tenant to pay for the stamp duty?
How to calculate this stamp duty?
Stamp duty for leases are calculated per schedule stated here - http://www.iras.gov.sg/irasHome/page04.aspx?id=8568 -
Castle House:
From my understanding, tenant will be the one paying for the stamp duty fee. Please remind tenant to stamp it within 14 days from the date of tenancy agreement to avoid any late penalty charges.Pls advise if there is no agent involved, can I ask the tenant to pay for the stamp duty?
How to calculate this stamp duty?
Since you do not have any agent involved, please ensure that you have a copy of the tenant's particulars - Work permit, etc and ensure that it is valid. It will be under the landlord's due diligence to check and ensure that it is valid during their lease of your unit. -
Dear All,
Need detailed advice. I am doing the rental renewal with my existing tenant. As it is going to be their 5th year and we are no longer under the obligation to use the agent, I have decided to do it myself.
The rental value and period has been aligned. I’ve a template for the tenancy agreement which I’ve modified accordingly based on the new terms. I am sending it to my tenant for their review. I am also requesting for a scanned copy of their EP since the ones we had 4 yrs back had expired.
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. -
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=8568MMM:
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. -
jon00:
Can you pls clarify on the \"original and duplicate\"?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
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? -
From my experience , tenants will estamp the signed agreement & pay about $220 for 2year lease and forward a copy to landlord.
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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 -
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. -
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.
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