As retail leasing guidelines become law, tenants want more data from landlords

EVEN as guidelines for retail leasing are set to become law, tenants want to go beyond the proposed legislation and request more data from landlords. More data will give them a leg up in rental negotiations, tenants said.

Tenant group Singapore Tenants United for Fairness (SGTuff) proposed that landlords be required to provide data on the footfall and average rental per square foot (psf) in their retail premises.

This data should be collected “by mall and by floor”, updated monthly, and publicly published, similar to residential transactions, said SGTuff chairman Terence Yow.