Leases starting to reflect fair tenancy code of conduct, but tenants still call for legislation
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NEW or renewed retail leases are starting to reflect Singapore’s year-old industry-led code of conduct (COC) for fair tenancy, but tenants still look forward to legislation, which could happen as early as this year.
At least 8 major private sector retail landlords and all government landlords have committed to the COC, which came into effect June 1, 2021.
Businesses and Fair Tenancy Industry Committee (FTIC) members told The Business Times that while most major private landlords and government landlords have updated their lease agreements in line with the COC, adoption is rarer among smaller landlords due to a lack of awareness and the absence of legal obligation.
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