Sing-Guarantee is the first and only rental deposit guarantee in Singapore. It is the Swiss-standard rental security deposit solution that is shaking things up in Singapore’s rental market.
If you’re an expatriate from Europe, the term “rental deposit guarantee” might sound familiar to you. However, it is a completely foreign rental solution that is now being introduced in Singapore.
Sing-Guaranteeis the first and only company in Singapore that provides rental deposit guarantees and it is set to disrupt security deposits as we know it, in the property rental market. It allows tenants to free up their cash for extra expenses while providing the same security to the landlord.
Rental deposit guarantees are, in fact, not new. They have been around in Europe for over 20 years and are a standard accepted by tenants and landlords alike. It first started in Switzerland and currently powers 50% of rental agreements there. Sing-Guaranteebrings to Singapore this Swiss-standard on rental deposits.
The biggest gripe for tenants in the rental market has always been the security deposit. The amount which is usually two months of rent has to be paid in addition tothe first month of rent. This is a large amount especially for someone newly moving to Singapore.
However, you no longer have to lock your cash in a security deposit when you rent an apartment in Singapore. Sing-Guarantee brings you the ideal, European solution that unlocks your security cash deposit. Instead of paying your landlord a rental deposit in cash, you can apply for a Sing-Guarantee certificate, in favour of the landlord.The certificate is a rental deposit guarantee that will cover the landlord in the same way a cash deposit does –at a fraction of a cost to the tenant as compared to the opportunity cost of locking away thousands of dollars for two to three years.
Each Sing-Guarantee certificate is fully reliable and 100% backed by an equivalent cash amount. Tenants only have to pay an initial fee depending on the amount of the guarantee and inception date of the lease. Subsequently, tenants only pay an annual fee to Sing-Guarantee. However, unlike a rental guarantee insurance (which is taken upby the landlord at his/her own cost while tenant is still required to pay for the rental deposit), the tenant remains liable for any damage caused to the property or default in rental payments.
With Singapore being the 7th most expensive location in Asia for high-end rental homes, rent in Singapore could easily cost anything from $2,500 to $8,000 for a 3-bedroom apartment. This depends on the area you choose to live. Imagine the amount of immediate and substantial cash savings tenants who choose to use Sing-Guarantee will now have!You easily save up to $5,000 - $16,000 in cash upfront, which you would typically only get back once the lease is over. This can now be spent on things that matter morelike children’s school fees, medical insurance, cost of moving, etc.
Tenants who are interested in applying for a Sing-Guarantee certificate can do so online at www.sing-guarantee.com.sg. Applications are reviewed and approved within 48 hours, and shared directly with the landlord so moving in is hassle-free.
For more information, please contact:
SG, Sing-Guarantee Pte. Ltd.
Address: Suntec Tower Three, 8 Temasek Boulevard #42-01, Singapore038988
Tel:+65 6829 2301
Whatsapp: +65 8711 8500
From Monday to Friday from 8:30am to 05:30pm