Document background
The Pre Lease Agreement serves as a crucial preliminary document in Singapore's property rental market, providing a structured framework for parties to progress towards a formal lease arrangement. It is commonly used when parties need time to conduct due diligence, secure financing, or fulfill other conditions before committing to a full lease term. The agreement typically includes details about the property, proposed rental terms, option period, and any conditions precedent. Under Singapore law, this document creates legally binding obligations while protecting both parties' interests during the pre-lease phase.
