TENURE

2-3 years are commonly adopted by major landlord for traditional commercial spaces.  For tenure less than 2 years, it will be more appropriate to take up a lease with a serviced office/co-working space.

 

OPTION TO RENEW

Usual lease with come with an option to renew, where terms for renewal will be renegotiated and subject to agreement between both parties

 

RENTAL FREE PERIOD

1 month is common for units from 1,000-3,000 square feet

for fitted out units, shorter rent free period will apply

 

SECURITY DEPOSIT

3 months is a norm for major landlords subject to the tenant’s paid up capital satisfying the required paid-up capital

For individual owners, the security deposit ranges from 2-3 months.

 

LEGAL/ADMIN FEE

There may be a one-time legal/admin fee payable by the tenant at the time of execution of tenancy agreement

 

STAMP FEE

Tenant will be responsible for the stamp fee payable.  IRAS’s formula below will be used to calculate the amount payable.

Monthly rent * number of months of lease * 0.4%

 

ONE MONTH ADVANCE RENTAL

1 month advance rental will be payable at the time of execution of the tenancy agreement.  This payment will be used to offset the rent for the 1st month.

 

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