Lease ending around year-end? How to decide whether to renew or re-let in Q4 2026
Allan Shieh | CEA R064728Z | PropNex Realty Pte Ltd (L3008022J)
By Allan Shieh | CEA Reg. No. R064728Z | PropNex Realty Pte Ltd (Licence No. L3008022J)
If your tenant's lease ends in November, December or early 2027, you have to decide soon: offer a renewal at the same rent, trim the rent to keep a good tenant, or go back to the market. This guide covers the latest numbers, the costs people often forget, and a simple timeline, so you can decide on facts rather than gut feel.
What the latest rental data shows
The rental market has been moving slowly, not swinging sharply. According to SRX and 99.co flash data for September 2026 (published 20 Oct 2026), condo rents changed as follows from August to September:
- Core Central Region (CCR): +0.6%
- Rest of Central Region (RCR): −0.3%
- Outside Central Region (OCR): −0.8%
- HDB rents overall: −0.6%
Source: 99.co, "Condo and HDB rental volumes continue to decline in September 2026", 20 Oct 2026 (SRX/99.co flash data).
Supply also matters. About 5,012 private homes are expected to complete in the second half of 2026, and 13,480 HDB flats reach their minimum occupation period (MOP) in 2026, which means more flats may be offered for rent. Source: The Business Times, 24 Jul 2026.
What this means for you: tenants in some areas have more choice, so the "right" rent for your unit depends on its location, condition and nearby competition. Monthly figures are estimates and can be revised, and your own unit may not follow the average.
Three options: hold, trim or re-let
1. Renew at the current rent
This works well if your unit is in demand, your tenant pays on time and similar units nearby are listed at or above your rent. You avoid vacancy and handover work.
2. Trim the rent to keep a good tenant
A small cut can cost you less than an empty month. A reliable tenant who looks after the unit is worth a lot. Compare a modest discount against the costs of re-letting (see below) before you decide.
3. Re-let to a new tenant
This makes sense if comparable units are clearly renting for more, if the current tenant is leaving anyway, or if you plan to refresh the unit. Just make sure you count the real costs.
The real cost of re-letting: a quick comparison
Before turning down a renewal, add up what re-letting may cost:
- Vacancy weeks: Each week the unit sits empty costs about a quarter of a month's rent. Nobody can guarantee how long a unit takes to let.
- Agent fees: Check your agreement for any commission on a new lease.
- Minor repairs and refresh: Painting, cleaning, aircon servicing and small fixes between tenants.
- Your time: Viewings, negotiations, inventory checks and handover.
Illustration only (made-up numbers): If your rent is SGD 4,000 a month, four empty weeks plus SGD 1,500 of touch-ups comes to about SGD 5,500. Over a 12-month lease, that equals roughly SGD 460 a month. A new tenant would need to pay noticeably more just to break even, compared with renewing at SGD 4,000. Your own numbers will differ, so run them for your unit.
Check comparable listings, not just averages
Regional averages are a starting point. For your decision, look at:
- Units in your own development or street with a similar size, floor and condition
- How long those listings have been on the market (old listings may be overpriced)
- Recent rental transactions, not just asking prices
- What your unit offers that others don't, such as furnishing, renovation or a view
Timing: start about three months before the lease ends
- About 3 months before: Check comparables and decide your preferred option. Look at your lease for any renewal or notice clauses.
- About 2–3 months before: Talk to your tenant about their plans and make a renewal offer if it suits you.
- About 2 months before: If you are re-letting, prepare the unit, photos and listing. Agree viewing arrangements with the current tenant according to the lease.
- Final weeks: Plan the handover, inventory check and deposit return.
Year-end holidays can slow viewings and decisions, so starting early gives you more options.
HDB landlords: check the current rules first
If you are renting out an HDB flat or rooms, HDB rules apply. These can include eligibility, approvals and tenant requirements, and they may change. Before you renew or re-let, check the latest requirements on the official HDB website (hdb.gov.sg) or contact HDB directly.
Frequently asked questions
Should I raise the rent at renewal?
It depends on how your unit compares with similar listings and transactions nearby. Recent movements have been small and mixed by region, so check comparables before you set a figure.
How early should I talk to my tenant?
About two to three months before the lease ends is common. It gives you both time, and it gives you time to re-let if needed. Check your lease for any notice periods.
Is it always cheaper to keep my current tenant?
Not always, but often. Compare vacancy, fees and repair costs against any rent increase you expect from a new tenant.
Do the market figures mean my rent will go up or down?
No. They are market-wide estimates. Your unit's rent depends on its own location, condition and competition.
I rent out an HDB flat. Anything different?
Yes. HDB has its own rules for renting out flats. Check the latest on hdb.gov.sg before acting.
Free rent check for your unit
Not sure whether to hold, trim or re-let? Share a few details and I'll send you a no-obligation view of comparable listings and recent rentals for your unit. This is a guide only. No specific rent or letting time can be guaranteed.
Allan Shieh | CEA Reg. No. R064728Z | PropNex Realty Pte Ltd (Licence No. L3008022J). This article is general information, not financial, legal or tax advice. Market figures are from the third-party sources cited, as at the dates shown, and may be revised. No rent level or letting time is promised. HDB owners should check current rules at hdb.gov.sg.