AskGuru Q&A Community

Make confident property decisions with advice from our experts

Asked by
I am a new to renting property. I own a condominium and intent to rent out. However, I did not rent out the whole unit but to 3 individual rooms (masterbed room, 2nd room and 3rd room) to my colleagues. Question, since there is no master tenant, how do I need to prepare tenancy agreement and duty stamped?
0 •
495 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

1 Answer

David Wong Lai Kwong
Replied
It is not a requirement to have a Tenancy Agreement for any rental of properties. However, a Tenancy Agreement which is a contract spelling out the terms and responsibilities of the Landlord and the Tenant will help to to address any breach or disputes pertaining to the tenancy. Stamp duty is to reinforced and legalized the tenancy contract and perhaps sync with the Inland Revenue Department for income tax. It is not practical and cost effective to have 3 different tenancy contracts just for renting out rooms. Read More
0
Upvote Upvoted

Still looking for answers?

Get advice from our community of experts

Ask Your Question
Previously Asked Questions