The Commercial Property Tenancy Agreement is essential for businesses seeking to lease commercial space in Singapore. This document serves as the primary contract governing the landlord-tenant relationship in commercial properties, whether for retail, office, or industrial use. It addresses crucial aspects such as rental terms, security deposits, maintenance obligations, and compliance with Singapore's strict building and safety regulations. The agreement must align with Singapore's commercial property laws and often requires careful consideration of zoning requirements, permitted use restrictions, and specific industry regulations. It's particularly important in Singapore's dynamic commercial real estate market, where property use and tenant protections are heavily regulated.
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Key Requirements PROMPT example:
Commercial Property Tenancy Agreement
"I need a Commercial Property Tenancy Agreement for a retail space in Singapore's Orchard Road district, starting from March 1, 2025, with specific provisions for F&B operations and outdoor seating arrangements."
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1. Parties: Identification and details of the landlord and tenant
2. Background: Context of the agreement and property details
3. Definitions: Key terms used throughout the agreement
4. Demise: Description of the premises being leased
5. Term: Duration of the lease
6. Rent and Payment Terms: Rental amount, payment schedule, and method
7. Security Deposit: Amount and terms of the security deposit
8. Use of Premises: Permitted use and restrictions
9. Maintenance and Repairs: Responsibilities for property upkeep
10. Insurance: Required insurance coverage
11. Termination: Conditions for ending the lease
1. Option to Renew: Terms for lease renewal - used when parties agree to potential lease extension
2. Break Clause: Early termination provisions - used when early termination might be needed
3. Fit-out Works: Terms for tenant improvements - used when premises require modification
4. Service Charge: Additional charges for building services - used in multi-tenant buildings
5. Subletting/Assignment: Rights to transfer the lease - used if subletting might be permitted
1. Floor Plan: Detailed plan of the leased premises
2. Inventory: List of fixtures and fittings
3. Building Rules: Regulations for use of the building
4. Fit-out Guidelines: Specifications for permitted alterations
5. Service Charge Schedule: Breakdown of additional charges
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