Renewal vs New Rental Singapore: Stay or Move Guide | Homejourney

This definitive guide helps Singapore tenants and landlords weigh lease renewal against finding new rental. Homejourney prioritizes your safety with verified data, transparent advice, and tools to make confident stay or move decisions in 2026's stabilizing market.

Discover negotiation strategies, hidden costs, legal rights, and market insights. Whether renewing your HDB flat in Toa Payoh or a condo in Orchard, Homejourney ensures trustworthy guidance backed by official sources like HDB and URA.

1. Renewal Basics in Singapore
2. Renewal vs Finding New Rental: Key Differences
3. Factors to Consider: Stay or Move?
4. Negotiating Your Lease Renewal
5. Understanding Rent Adjustments
6. Hidden Costs: Renewal vs Moving
7. HDB vs Private Property Rules
8. How Homejourney Supports Your Decision
9. FAQ: Renewal vs New Rental

1. Renewal Basics in Singapore

Lease renewal extends your tenancy by creating a new agreement after the original term ends, typically 1-3 years for private properties or 2-3 years for HDB flats[1]. Unlike extensions, which amend the existing lease, renewals allow updated terms like rent or conditions[2].

Singapore has no rent control; market rates dictate pricing[1][3]. Written agreements aren't mandatory but essential for protection. Start discussions 3-6 months before expiry for smooth negotiations[1].

For landlords, assess tenant reliability: on-time payments, property care, and compliance. Good tenants justify modest increases to avoid vacancies[1]. Tenants, review your lease for notice periods, usually 1-2 months[3].

Standard Renewal Timeline

3-6 Months Before Expiry: Initiate talks, research market rates via Homejourney's rental search.
2 Months Before: Submit formal proposal with new terms.
1 Month Before: Sign new agreement, pay stamp duty (0.4% of annual rent for 1+ year leases)[1].
Post-Signing: Update HDB/URA if required, notify IRAS for tax[3].

Insider tip: In areas like Jurong East near new MRT lines, demand rises—tenants can leverage this for better terms[4].

2. Renewal vs Finding New Rental: Key Differences

Renewing creates a fresh tenancy agreement with potential changes, while finding a new rental means terminating the current lease and starting anew elsewhere. Renewals save moving costs but may involve rent hikes; new rentals offer fresh starts but add expenses[1][2].

Aspect	Lease Renewal	Finding New Rental
Agreement	New TA required[2]	New TA with new landlord
Stamp Duty	0.4% on new rent[1]	0.4% on new rent + agent fees
Costs	Lower (no moving)	Higher (S$2,000-S$10,000)
Time	Faster (weeks)	1-3 months search

Renewals suit stable tenants; new rentals fit those seeking upgrades, like moving from a Yishun HDB (S$3,500/month) to a Tampines condo (S$5,000/month) amid 2026 market stabilization[3][4].

3. Factors to Consider: Stay or Move?

Key to lease renewal decision: evaluate rent, location, relationship, and market. In 2026, HDB rents rose 1.4% in 2025, private flat amid new supply[3].

Rent Value: Compare via Homejourney property search. If renewal exceeds 10% market rate, consider moving[1].
Location: Proximity to MRT (e.g., 5-min walk from Boon Lay MRT adds value).
Landlord-Tenant Fit: Reliable parties favor staying[1].
Lifestyle: Family needs? Schools nearby? Renew if ideal.
Market Timing: Tenant-favorable 2026—negotiate or find deals[4].

Original insight: Expats in Bugis often renew for diplomatic clauses; see Expat Rental Trends & Diplomatic Clauses 2026: Homejourney Guide ">Expat Rental Trends[internal].

4. Negotiating Your Lease Renewal

Start 3 months early. Tenants: Show comparable listings 5-10% lower[4]. Landlords: Justify with market data, avoid mistakes like no notice[3].

Negotiation Strategies

Research: Use Homejourney for real-time rates.
Propose phased increases (3%+3%).
Offer concessions: Free parking, maintenance coverage[4].
Document everything to avoid Small Claims Tribunal (up to S$20,000)[3].

Practical tip: In stabilizing markets, tenants secured 15% effective reductions in Orchard condos by timing right[4]. Connect with Homejourney agents for pro tips.

5. Understanding Rent Adjustments

No caps on increases; align with market. 2026 HDB: +1.4%; private: flat[3][5]. Factors: New infrastructure, economy, tenant quality[1].

Fair range: 3-7% in growth areas like Punggol. Excessive? 15%+ pushes tenants out, risking 1-2 month vacancy (S$4,000 loss)[3].

Factor	Impact on Rent	Example (2026)
New MRT	+5-10%	Jurong Region Line
Supply Increase	-2-5%	21,000 new homes[3]
Tenant History	Modest +	Long-term reliable

6. Hidden Costs: Renewal vs Moving

Renewal: Stamp duty (S$200-500), minor updates. Moving: Agent fees (half-month rent), moving (S$1,000+), deposit (1-2 months), time off work.

Total moving cost: S$5,000-S$15,000 for 3-bed unit. Vacancy risk for landlords: S$4,000/month[1]. Use Homejourney bank rates if financing impacts decisions.

7. HDB vs Private Property Rules

HDB: Reapply subletting approval, citizen/PR quota[3]. Private: URA register for >90sqm, max 8 tenants[3]. Both need stamped TAs[1].

Landlords declare IRAS income; tenants check Landlord Tax & Yield Optimization: Singapore Rentals 2026 | Homejourney ">tax optimization. Disputes: Community Mediation or Tribunal.

8. How Homejourney Supports Your Rental Journey

Homejourney verifies listings for safety, offers transparent market data. Before renewing, compare on property search. Agents guide negotiations. Post-move, Aircon Services ">aircon services ensure smooth starts.

Trust Homejourney's user-first approach: feedback-driven, secure transactions. Related: Room Rental vs Whole Unit Rental in Singapore: Your Rights & Responsibilities ">Room vs Whole Unit Rights.