Decipher Tenancy Agreement Course
Why You Need to Take A Decipher Tenancy Agreement Course
In 2021, a new Code of Conduct for fair tenancy practices was introduced in response to the long-standing issues between landlords and tenants which had bubbled over during the height of the Covid-19 pandemic. For the first time in Singapore, landlords and tenants have a set of comprehensive guidelines to facilitate fair tenancy practices.
How will the new Code of Conduct impact existing and future tenancy agreements? Does its introduction signal new laws to ensure compliance? Tenancy practices in Singapore are changing, and it has become clear that the role of tenancy agreements is more important than ever.
A tenancy agreement is a contract between a tenant and landlord, and it is essential for protecting the legal rights of both parties. By establishing and agreeing upon a set of obligations, both parties are clear about what is expected of them. This effectively minimizes disputes and causes conflict, forming a solid foundation for a successful long-term tenancy relationship.
The new Code of Conduct introduces a list of new guidelines relating to retail tenants. More specifically, it requires tenants and landlords to comply with new guidelines regarding rent structure, exclusivity clauses, and sales performance clauses. Hence, it is absolutely essential to have a clear understanding of these changes and how they might impact a tenancy agreement. Without a clear understanding of the terms and conditions of the tenancy agreement, tenant and landlord are vulnerable to misinterpretation and misunderstandings which leave room for disputes or termination.
To address this difficulty, REL Alliance is proud to offer one of its specialties to customized & “tailor-made to suit” courses on The Importance of a Tenancy Agreement.
Contact us to find out more today!