Rental Deposit Guarantee - How it Works | Sing-Guarantee
What is a Sing-Guarantee Certificate?
You are about to sign a lease and your landlord and/or its agent will ask you to provide a security deposit in cash.
The cash security deposit is typically money equivalent to two months rent, to be used by the landlord to pay for any damages caused by the tenant during the tenor of the lease or collect rent in arrears in the event of default by the tenant under the lease agreement.
With Sing-Guarantee, it replaces your cash security deposit whilst giving the landlord or agent the same amount of comfort.
Sing-Guarantee Certificate or Pre-approved Certificate. What is the difference?
If you have already found a new home and have signed the lease or are about to, you can apply for a Sing-Guarantee Certificate Of Guarantee (COG) now by filling in the form here. We will handle your application without delay.
If you are still looking for a property to rent, then you can apply for a Pre-approved certificate here. This document will be useful for you when making property viewings. Just show the Pre-approved certificate. It proves you have been pre-approved for a deposit guarantee. As soon as you find or decide on your new home, all you need to do is convert your Pre-approved certificate into a Sing-Guarantee Certificate. To do this, just fill in the application form with your Pre-approved certificate number and details of the rented property.
How much does it cost?
With Sing-Guarantee, you can provide the Landlord with a Sing-Guarantee Certificate instead of freezing cash equivalent to 2 months rental in the Landlord’s bank account. You will be first charged with an Initial fee and from the second year onwards, with an Annual Fee.
For the first year, the fee depends on the amount of the guarantee and inception date of the lease.
From the second year, the Annual Fee is a fixed amount depending of the amount of your guarantee.
Follow the path to your Sing-Guarantee Certificate
- Fill in our registration form:
- Online, by giving basic details about yourself
You only need to attach to your application, a copy of your lease agreement, your employment details and your passport/NRIC/valid employment pass
Once approved, you can proceed to making payment of your fees
- Our team will immediately process your application and you will receive your Pre-approved Certificate or your Sing-Guarantee Certificate in the course of the day
- We will forward the Certificate to your landlord or its agent
- Now, all you need to do is move in and enjoy your new home...