Your Home For Your Parents - Be A Landlord

Help your elderly parents age in place, with Care Fees, Food, and Utilities fully covered. Turn your home into your parents’ ideal environment.

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Why Rent Out My Property to Retire Genie?

Longer Leases

Tenants are required by HDB to lease a flat for a minimum rental period of at least 6 months. Therefore, the landlord must make sure that their occupants’ non-citizen permits are valid for at least six months from the date of the application of the rental contract. If practically all of the tenants are Singaporeans or Malaysians, flat owners can also have Retire Genie rent out their property for a maximum of three years, providing them with the assurance of a secured lease on their apartments for the ensuing years.

Stringent Tenant Selection Process

In general, we have a sizable database of possible co-living tenants. On our platform, prospective co-living residents can quickly find their ideal apartment. Also, with our assistance, we ensure that the residences we rent to senior citizens are well-maintained, preventing any maintenance issues for the apartment’s owner.

Higher Returns

For every successful rental match, you can lease with Retire Genie and receive greater returns. Our senior customers have no reservations about renting out your private properties as retirement residences after viewing them. The more senior residences Retire Genie rents out as a result, the potential profit to the property owner may be greater.

Maintenance Covered

In addition to making sure that potential renters can connect with our partners and real estate agents to find luxurious apartments at reasonable prices, we also make sure that regular property inspections and maintenance are carried out for your safety. Not only does Retire Genie develop your properties into reputable homes, we further ensure that it has been agreed upon for us, as the lessee, to be in charge of all proper maintenance for the Singapore elderly apartments.

A First in Singapore

Our partner properties are developed and intended to feel like cozy homes as opposed to the normal clinical and monotonous settings of other senior care in Singapore. Retire Genie undertakes this first initiative to form a cooperation with private apartment owners in order to deliver exceptional senior housing at a reasonable cost.

How Do I Put My Property up for Rent to Retire Genie?

Fill Out the Form

Complete the necessary fields on the Retire Genie form if you’re seeking to rent your home in Singapore in an HDB flat.

Receive an Email Confirming That Your Property Meets Our Initial Criteria

Wait for an email confirmation after submitting your application, or a representative may get in touch with you to arrange a viewing so they may assess how suitable your property is in a matter of days.

Schedule an On-Site Visit for Our Assessor

A Retire Genie property agent will make arrangements to conduct viewings after they have narrowed down their top picks, walk through the apartment, and assess the home.

Receive a Call Confirming That We Will Be Renting Your Property

Within 1-2 business days following the extensive viewing and evaluation phase, expect a call from our representative property agents to confirm that your property has met the requirements and is now allowed to rent.

Sign the Contract of Lease and Become a Landlord

Sign the lease and rental agreement to complete the process ahead of the most coveted day of wrapping up your rental transaction. Now that everything is finished, cheers on leasing out your home with Retire Genie!

Frequently asked questions

FAQ

Is Renting Out a House Profitable?

An effective strategy to build your assets is by making residential rental property investments. Long-term and short-term rental homes, in particular, are among the most beneficial real estate investments. There are a few risk elements to take into account along with the possibility of profit generated from a rental property due to recurrent income, property value growth, and tax benefits.

How Much Can I Lease Out My Property For?

Generally, property owners should base the rental amount they charge on a proportion of the market worth of their property. Normally, landlords charge rentals that range from 0.8% to 1.1% of the value of the property. For a property worth $250,000, as an estimate, landlords of HDB flats might charge somewhere around $2,000 and $2,750 monthly from prospective tenants.

Do I Need to Pay Tax for Rental Income?

Rental income is taxed since it is regarded as income, as is mentioned explicitly in the specification of gross income. Whereas income tax is levied on the money received from rentals, private property taxes are assessed on property ownership.

What Documents Must I Prepare to Lease Out My Property?

In order to ensure that you are ready for any eventuality, we generally outline the necessary rental documentation for property owners. Both proofs of citizenship as Singapore permanent residents, property ownership documentation, and a Tenancy Agreement are required of landlords. Also, a certified true copy of the Power of Attorney should also be filed with the High Court and provided with the filing if the flat owner is out of the country during the renting period. Additionally, there is a $20 administrative fee for every application.