Business Property For Lease In Singapore

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1, Rental subject
It is necessary to verify the original housing ownership certificates prior to signing the contract. If the lessor is not the owner but the leasing agent or entrusted rental, the lessor should provide the authority as the house owner; if there are two or more the lessors, you need a total consent or authorization from all of them.

2, the nature of the land
The construction land is divided by end-use to industrial land, residential land and commercial land. According to property law and real estate law, the actual use of housing should be consistent with the use of land. It will not be allowed by relevant institution when someone built hotels on industrial land.

3, about sublet
Housing sublease is usually divided into two ways, the first way is with the written consent of the landlord, the lessee can act as a “second landlord” to lease some or the entire house and monetize from it. But without the written or oral consent, the landlord has right to lift rental contract and get the house back.

4, Fire control approval
The business property for lease generally takes two checks. First is during the housing completion and acceptance, it should be made fire control certificate or registration; the pre-opening security checks when the rental housing is for commercial premises. The former is the responsibility of the owners and the latter is generally of the lessee. In order to avoid a dispute, before signing the contract, it is best for the lessee hire some engineering professionals to on-site inspection.

5, supporting facilities
Business property leases often involve supporting facilities such as central air conditioning, elevators and security facilities. If the equipment got problems, it will directly affect the normal business activities. So when the two sides signed a contract which must include clear convention of facilities replacement responsibilities and costs.

6, illegal structures
All kinds of illegal construction of the illegal housing ownership or of no other legal certificate proof of ownership shall not be rent. If any or all part of the leased property is belonging to illegal construction, it will result in all or part of the lease contract invalid. The lessor and the lessee often reach some kind of “understanding” of illegal structures that, it will be ok as long as there is no investigation from relevant government departments. But the business property for lease remind and suggest that this tacit agreement can not stand the test of time and temptation; it can easily become an excuse to break the contract in the future.


Resource From: Business Property For Lease and Marina Bay Financial Centre

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March 20, 2013 |
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