The Process
The leasing process begins once the tenant confirms the preferred unit. A Letter of Intent (LOI) is prepared by the agent, outlining all proposed and agreed commercial terms, and submitted to the landlord for consideration. During this stage, tenants typically shortlist their interior designer (ID) and fitting-out contractors to prepare for renovation planning.
Step 1
After confirming the choice of the unit , Agent should prepare a Letter of Intent with all the proposed and agreed terms of conditions of the lease to submitted to the Landlord.Shortlist ID & fitting- out contractors
Step 3
Signing of the Lease Agreement.
Appointed ID and Fitting out contractor to start prepatory work for all renovation works , and application for all work permits for renovation works., and also payment for deposit for renovation.
All renovation works are subjected to approval of the Fire safety authorities with the help of a QP ( Qualified Person )
Under the lease agreement conditions, Tenant is required to also purchase a Insurance policy that covers the premises that includes fire and public liability. Ensure this is purchased before taking possession of the premises and commencement of renovation works.
Step 5
Move into new premises.
Step 2
Landlord agrees to terms of LOI , Landlord appointed Lawyer to issue Letter of Offer to Tenant.
Tenant to sign the LOO along with payments of advance rentals, security deposit , legal fees and stamp duty.Confirm appointment of ID and Fitting out contractors.
Step 4
Move into new premises.
Step 6
Lease commencement.