Landlords get creative with new ‘fees and charges’ as leasing code set to become law
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MANDATORY compliance with a new code of conduct for leasing is welcomed by tenants, but several retailers who spoke to The Business Times also flagged that landlords are finding new ways to increase the amounts that tenants have to pay.
Since Jun 1, 2021, the Code of Conduct for Leasing of Retail Premises in Singapore has been voluntarily adopted by major private sector landlords and all government landlords. Legislation is expected to mandate compliance with the Code, following a public consultation exercise from Jul 18 to Aug 5.
But landlords have found ways to exploit tenants beyond the Code, said Terence Yow, chairman of Singapore Tenants United for Fairness (SGTuff) and managing director of shoe retailer Enviably Me.
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