7 Tips On Renting A Commercial Unit In Singapore

I was searching on google on ‘Tips on renting commercial property in Singapore’. The results were abundant BUT it was more for renting apartments and houses which I believe are 2 totally different entities.

After some thoughts, I decide to come up with a list of tips on renting commercial property. These are tips I learn while looking for a suitable location for my business (Still searching, if you have to offer let me know, much appreciated)

The first three points are often what property agents will ask in order to cater to your requirements. So you must do some work before hand.

1. Size & Shape of space; it is dependent on the activity you are carrying out. Have in mind the range of sizes you are looking for. Shape is important too. I need a regular shape (i.e. square or rectangle shape unit). Fitted or Bare?
2. Location & Surrounding. Do you need a space which must be highly accessible by public transport? Or location is secondary in your selection. Many a times, location comes with a price!
3. Budget. The two factors above will determine the range of price for your unit. Certainly, negotiations can be done if you really find a suitable place and you would want to negotiate to a price which is favourable for both parties.
4. Find an experienced agent. Experienced agents save you the time and you are handled with ‘professionalism’.
5. Know the ’standard’ practice of the costs involved. 2 Months deposit + 1 Month advance + 1 Month commission for agent (for a 2 years lease).
6. Other Charges involved? Is GST included? Is there maintenance fees involved? What are the other charges that tenants have to bear? Are there any restrictions or limitations on the usage of the unit? What would be the approximate utility cost per month?
7. Negotiations for better deals? Length of tenancy, ‘free’ renovation period, ‘requests to be made to landlord’

These are just some tips I came up with after viewing a couple of commercial units. I would love to hear from your experience in renting a commercial unit in Singapore.

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