WHAT DOES THE UPFRNT SERVICE ENTAIL?

Frequently Asked Questions

General

What is Upfrnt?

Upfrnt facilitates the best rental experience by caring for properties in the long-term. Upfrnt is your property management and maintenance partner that serves both landlords and tenants.

How does it work?

Upfrnt provides landlords with a full year’s rent upfront, minus our fee. We attend to all maintenance requests by tenants at no additional cost and repair or replace all items on the inventory list at no additional cost. We upfront the full year’s rent minus 14% and cover all the maintenance and management costs. This is the fee for our services.

Why are you giving me upfront cash?

The upfront cash we provide is our commitment to taking care of your property as if it were our own. We work diligently to ensure that your tenants live in a safe, secure and well-maintained property. Our success depends on maintaining your property effectively, looking after tenants, and ensuring   that your property remains highly sought after by future tenants.

Is there any interest on the upfront cash?

There is no interest payable on the upfront cash.

You do not have to return the upfront cash, subject to our terms and conditions.

We disburse a full year's rent minus 14%.

Contact us at +65 8913 7262 or contactus@upfrnt.co for a detailed walk through.

Yes, definitely! The landlord is appointing us as a landlord representative/ property manager.

Tenant

What do I need to tell my Tenant?

All you have to do is to provide notification to the tenant, informing them of the change in the account for rental payment purposes. The tenant will need to acknowledge receipt of the notification.

How often will my tenant be contacted?

Our platform will automatically send a notification to your tenant 3 working days before their rental due date and on their rental due date every month. We will not be in touch with them beyond that if the tenant is punctual in their payments. We will only contact the tenant in case of delays or non- payment of rents. Your tenants will also have access to our app to submit all property maintenance requests.

Can I receive a lump sum for a portion of the tenancy agreement?

Yes you may! For instance, if your tenancy agreement has a tenure of 18 months left and  you’re considering  of selling your property while also wanting to have the convenience of not worrying about rental payments, you can choose to receive a lump sum equivalent to 6 months’ rent. The maximum tenure we offer upfront is 12 months (or the remaining of duration of the rental agreement).

Sit back and let Upfrnt take care of everything.

You can keep the upfront rent you have collected! We will not ask for repayment of the Upfrnt rents collected. However, we will request the rental deposit. In case of default, we will evict the tenant and collaborate with our partner agents to re-lease the property for you while continuing the Upfrnt service. There are no additional costs or fees for you to worry about.

Since you have already collected all your rent due through us; you cannot allow deductions to be made from the monthly rent.

You may sell the property after engagement of Upfrnt services; subject to terms and conditions. Please provide us notice in writing within 14 days from the date of acceptance of Option to Purchase. You will have to refund the balance rents due to us 14 days from notice to us.

You cannot make changes to the terms of your tenancy agreement during the term you have collected the Upfrnt rent.

We will recover the rents due or the full disbursement from the landlord in the following circumstances.
1. The landlord sells his property during the term.
2. Any fraudulent representation by the landlord.
3. Breach of contract including the tenancy agreement by the landlord.
4. The landlord behaved in an unreasonable manner to evict the tenant after collecting the Upfrnt rent; was wilful or intentionally default or failure to perform any obligations under the terms of the tenancy agreement.  (e.g access to apartment)

We are sorry. You cannot terminate the lease ahead of time. Upfrnt leases are for a period of 1 year. We believe this is period where you can plan sufficiently ahead of time for your needs

We will collect the rental deposit in the event of tenant defaults.

Maintenance

Yes! Upfrnt will attend to all your tenant requests. Items listed in the inventory list are replaced or repaired at no additional cost to you. We also provide maintenance on items that are normally not listed in the inventory list but are within the property. Examples are doors, sinks, lights etc. Please refer to the maintenance list.

Yes, We do not cover items that are outside the leased unit. We do not cover items that require reporting and approval from MCST, HDB or other regulatory authorities. We do not cover concealed items. We do not cover structural items. We do not replace or repair air-conditioning units. We do not cover waterproofing works.  We do not cover repair to damaged flooring material, we do not repaint properties. we do not replace built in carpentry works. Please refer to the list of items that specifies list of items that are included. Items that are not specified as included are excluded.

Tenants on our platform can make a request for all types of work required in the property via our platform. Our in-house maintenance team will visit the premises to assess and understand the scope of work required. Our maintenance team can resolve 95% of the work requested at this first visit. There is no cost charged to the landlord. We do not charge tenants for most of these services as well. For repairs requested on items that are listed as excluded; we will advise tenants or landlord accordingly on the charges required. Landlords and tenants can elect to use their own contractors for such works. There is no obligation to work through our contractors
As an example, the fridge is listed in your inventory list. We will repair or replace the fridge at no additional cost to you. Replacements are done at a functional level.  
As a second example, the water closet is not in your inventory list. It stopped working. This is also included in our scope. All your tenant has to do is contact us, we will repair and / or replace it at no cost to you.

We are delighted that your current leasing agent is also supporting your tenant's maintenance request. We have found that due to the agent's workload and priorities in dealing with leasing or sales and purchase of properties; the maintenance issues may not be attended to as quickly as desirable. This always allow small problem to escalate into bigger ones. Additionally the landlords will still have to pay additional fees for the maintenance work done. This fee may also include a mark up to the agent for arranging the maintenance. We at Upfrnt believes that a property maintenance issue should be promptly attended to protect the value of your largest investment.


‍It is impossible to predict the timing and gravity of the issue that may arise. You may be facing stressors at work or on a vacation abroad when immediate property maintenance needs arise. Upfrnt is there for your tenants 24x7; everyday of the year

Regular maintenance of your property is  important for the following reasons :
1. It prevents small problems from escalating into bigger ones.
2. It extends longevity of the fixtures / structures in your property.
3. A well-maintained property always fetches both a higher rent and re-sale value; this means you make more from your investment. Upfrnt cares for your property to protect your future

Upfrnt strives to provide a totally stress free experience for the landlord.  We are sorry that you will not be able to opt for a maintenance only package as this would still require significant co-ordination from yourself which we believe does not eliminate the stressor of being a landlord.

Our replacement of inventory is on a functional basis. We regret that we will not be able to accept requests for specific brands or models on the inventory we are replacing.

As long as your inventory is listed and provided to us at the point of our offer of Upfrnt and you accepted the offer; we will honor the replacement of the inventory item; regardless of age of item

We regret to inform that you cannot swop the inventory items. We will not repair or replace inventory that has been removed / changed by the landlords.

KYC - Know Your Client

YC is the abbreviation for Know Your Client. KYC is a standard in the banking industry that ensures the banks can verify a client’s true identity. Our KYC solutions are used by financial institutions globally including companies such as HSBC, DBS, SBI, Revolut amongst several others

A Customer due diligence is performed during the KYC checks. Upfrnt checks against a global database for suspicious activities by the person transacting on our platform. Such suspicious activities may be but not limited to money laundering activities, terrorism financing, criminal activities.

You can understand how Singapore’s largest bank does it at this link; https://onfido.com/customer/dbs/

KYC is already a required standard in banking activities. We at upfrnt believe that you should be protected in your rental transaction. We aim to eradicate rental scams by eliminating non genuine users from our platform. KYC is one of the ways to protect our users.  We are a platform where genuine landlords and tenants connect. Genuine landlords and tenants should embrace KYC to protect their property and transactions. This is an important security feature that protects all users  on the platform. KYC ensures scammers do not have access to participate in your rental transactions

We do not retain the information that is shared with us during KYC. The KYC platform we use flags for potential suspicious activities. We take their aggregated information to make a decision on the potential risk of the landlord / tenant.

We do not retain any of the KYC information within our platform; the risk of a breach of data occurring on our platform due to KYC is negligible.

Users who do not KYC will be unable to access the services provided by Upfrnt. We allow only verified individuals to transact on our platform. This is to protect all genuine users on our platform.

The requirement to KYC is to ensure that only genuine authenticated users access our services. We protect users on our platform by allowing only users who had KYC on our platform. This is a security feature which we do not compromise

Whilst we are not completely sure of the background checks conducted by your agents. No existing agency or agents possess our proprietary system to access the risk profiles of the users. We are confident of our proprietary risk assessment system hence we guarantee and pays you the rents Upfrnt.