The Letter of Intent in Singapore typically serves as an intermediary between viewing the property and negotiations, and formally signing the Tenancy Agreement. This is a non-binding agreement stating your interest to rent an apartment. This is generally accompanied by a good faith deposit to show you are serious about renting the apartment.
Although it can seem like an unnecessary and bureaucratic step, it does serve a number of purposes. For detailed information – read our blog post – Letter of Intent – What’s it about?