Lease Renewal Agreement Singapore
«In the event of a non-agreement on the market price, an independent expert agreed by the tenant and lessor is used to make a decision» AREIF (Singapore I) Pte Ltd/NTUC Fairprice Co-operative Ltd  on www.singaporelawblog.sg/blog/article/97 The amount of the deposit is generally indicated in the letter of intent. The usual practice in Singapore is usually one month`s rent for each year`s rent. It is payable only with the signing of the lease. When the rental period ends, the deposit will be refunded interest-free. However, the lessor reserves the right to deduct from the surety all expenses and expenses incurred by the tenant for the violation of one of the agreements mentioned in the tenancy agreement. Since the majority of the «conditions» would have been corrected before the first lease period, a renewal option allows both parties to move smoothly to a renewal contract, without altering the original lease, EXCEPT for the duration of the lease and the exclusion of that renewal option. This clause is intended for security, if you are no longer employed, if you are transferred to other countries, you can terminate the lease after 12 months with 2 months notice. After that, you`ll be reimbursed for the deposit. Please note that most owners include the diplomatic clause only for a lease of more than one year.
TT lawyer says LL broke the deal by not renewing the offer option, and said LL marketing open to other potential TTs. Urm … Well yes (type of) if the new rent and conditions can be easily agreed and well before the end of the rental period, and if you meet nice people. In any case, always read the agency contract carefully when looking at future rental situations. Be very clear about the terms and payments before signing something, and set the expectations correctly with your agent from the beginning and you can look forward to a more exciting free rental! Hello, can I get a rent extension with my tenant by a simple email or letter with indication of the new rental period and that the conditions are under the current tenancy agreement? Is it legally binding? The standard rental period is 1 year or more, with or without the option to renew the lease. If the lessor or broker uses the standard IEA agreement, this should be correct. Your representative will then ensure that the lease is fair and impartial. The lessor must have, on written request of the tenant, no less than two (2) calendar months before the expiry of the tenancy agreement established here and if there is no violation or non-compliance with any of the agreements existing on the date of this application and the tenant`s provisions grant the tenant a tenancy agreement for an additional period of one (1) year from the end of the tenancy agreement thus created on the basis of the lease. In the event that the lessor gives the tenant an extension of the aforementioned period, the lessor and the tenant will pay either the agency`s renewal fee:i) at the current industrial rate plus GST; or (ii) S- Total Renewal Commission payable S – including GST.