Short Vs Long Term Apartment Rentals: What You Should Know

People opt to rent for a variety of reasons. Some are business travellers who will be in Singapore for a few months and are seeking a short term or month-to-month rental. Others are locals who have just got married and are considering renting a temporary housing option while waiting for their Built To Order (BTO) property. Then there are individuals who moved to Singapore and would rather rent than buy a property.

Whatever the reason you are looking for a temporary housing solution is, the good news is that you are able to find a wide variety of rental options available in this nation, and ST Residences is one solution you can look for.

Short Term Apartment Rentals

The regulation for short term rentals in Singapore stipulates that the minimum period for a rental is three months. In addition, you are required to hold either a Singapore passport, Permanent Residency, or a valid permit before you are allowed to rent in Singapore. Short term rentals of a couple of days are limited to travellers or tourists; in which they are only allowed to book a hotel, hostel, or serviced apartments.

Short term whole unit rentals provide tenants with the flexibility to move out when they need to and not be tied down to a yearly lease. All the tenants need to do is to inform the landlord or agent of the date they are moving out.

Short term rental arrangements are also ideal for those who might be unsure of whether the particular space might suit their specific needs.

Long Term Apartment Rentals

The minimum rental period of three months might pose a particular limitation on the number of accommodations you can find in Singapore. Hence, given the strict regulation mentioned, you would definitely see more rental options should you decide to look for long term arrangements.

Additionally, long term rentals typically offer better rental costs, especially if you decide to rent for a year or more. Also, you save yourself time, money, and energy of moving every couple of months. If you are relocating to Singapore, this is an ideal solution to consider.

Conclusion

The line between short term and long term apartment rentals can be blurry, each coming with its own sets of advantages and disadvantages. At the end of the day, it comes back to what your needs are and your rental budget.

If you are looking for serviced apartments that offer the flexibility to rent on a short term or long term basis, we at ST Residences have approximately 400 affordable service apartments in Singapore to choose from. Whether you are here in Singapore for a brief visit, or waiting for the completion of your new home, our fully furnished service apartments ensure you do not need to worry about anything when you choose to stay with us. Our service apartment rentals are also strategically and conveniently located all over Singapore.

Contact us at +65 9698 5918 or drop us a message at [email protected] to find out how we can help you.

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