Guide to Leasing Practice:
When you have found the perfect property, Expats for Expats will guide you through the leasing process:
Lease Agreement or Tenancy Agreement
Before you can move in, a lease agreement or tenancy agreement will be drawn up. This is a legal contract between the landlord and the tenant and details the terms of the lease. The lease is usually 2 years with an option to renew for a further 1 year, based on the then-market rental or a mutually agreed rental.
Diplomatic Clause
Most lease agreements will contain a diplomatic clause which enables the tenant to terminate the lease before the end of the lease period. Tenants are usually able to terminate the lease after 12 months with 2-3 months' written notice to the landlord, subject to
(a) satisfactory documentary proof of the occupant being transferred or relocated from Singapore to another country, or
(b) cessation of employment.
Landlord
This refers to an individual who owns one property in a block or complex, or a landed property, or a major developer who owns the entire development.
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