FAQ

A partially fitted office at least come with carpet or any partition rooms.

Under the standard lease term normally donot have pre-termination clause. Tenants are obligated to continue paying monthly rent to the landlord for the duration agreed in the signed Tenancy Agreement. Anywhere, Tenant possible look for replacement tenant with landlord consent.
Now you can list your office space in our website to get a tenant or replacement tenant

In Singapore, most of the major landlord looking for 3 years lease or minimum 2 years lease subject to landlord agree. 

You can consider renting a serviced office or co-working space. These spaces are most suitable for short term lease and are fully furnished to save the renovation cost. Simply fill out this form and let us help you to get quotations from the various providers in your selected location.

Rental Rates

Rental rates are typically quoted as gross rent per month or in per square feet (PSF).

PSF = (Base Rent + Service Charge) / Size of office (in sqft)

Service Charge

Typically included in the gross rent. This covers expenses such as centralised air-conditioning expenses during office hours, maintenance and security of the common areas etc.

GST

Rent is paid on a monthly basis and subject to 7% Goods and Services Tax (GST).

Lease Term

The usual length of lease for offices is three years. Longer leases may also be negotiated.

Option to Renew

Renewal may be for a period of between one to three years.

The rental rate will be renegotiated according to the prevailing market rent at the point of renewal.

Possession Date

This is the date agreed upon for the Tenant to take possession of the property. Also commonly termed as handover date.

Lease Commencement Date

The agreed start date of the lease. The tenant will also have to start paying rent from this date.

Fitting Out Period

The period between the Possession Date and the Lease Commencement Date for the Tenant to renovate the new premises. The fitting out period can vary according to market conditions and size of each office. It usually ranges between two weeks to two months.

Security Deposit

A refundable security deposit equivalent to 3 or 6 months gross rent is payable by the tenant upon signing the Letter of Offer. It is refundable without interest when the lease expires. The number of months usually depends on tenant’s paid up capital. The landlord reserves the right to deduct costs and expenses properly payable by the tenant on account of any breach by the tenant.

Legal fee

The fees incurred by the landlord for the preparation, negotiation and execution of the Lease documents. It is common practice for the Tenant to bear the legal fees.

Stamp Duty

Tax on rental transactions payable by the Tenant for each new lease agreement. Stamp duty is paid to the Inland Revenue Authority of Singapore (IRAS).

Renovation Deposit

Before the commencement of any renovation works, the Landlord usually collects a renovation deposit from the tenant to cover any damages to the property that may potentially result from the renovations.

Reinstatement

The Tenant is required to reinstate the office premises to its original bare condition upon the expiry of the Lease, at their own cost, unless otherwise requested by the Landlord.

Letter of Intent (LOI)

Letter of Intent (LOI) is a non-legally binding document submitted by the Tenant to the Landlord. It should outline the main terms and conditions for the lease to be negotiated on by both parties.

Letter of Offer (LOO)

The Landlord will issue the Letter of Offer (LOO) after the main terms and conditions on the LOI are agreed upon. The Tenant will be given a specific amount of time to respond to the LOO, usually 3-5 working days. To accept the LOO, the Tenant will have to sign the document and make the necessary payments.

Tenancy Agreement (TA) / Lease Agreement (LA)

The TA/LA is the full set of legal terms and conditions pertaining to the lease. Both LOO & TA are legally binding upon acceptance.

Absolutely. We’d love to help. Just let us know your requirements, available date and time.

There are no obligations if you do not like the space.

Our service is totally FREE for tenant looking for office spaces

Usually tenants are given a fit-out period of 1 to 2 months to renovate their office, depending on size of office.

Tenant normally required to reinstate the office to original condition as this is the standard commercial clause. 

Normal offices are rented in a bare or partially fitted condition. Furniture has to be purchased and owned by the tenant. However, in certain instances the previous tenant might be willing to leave behind their office furniture. If you require a fully furnished office, you can get in touch with us and indicate “fitted offices only” or consider renting a serviced office.

8 out of 10 tenants will start to look for fitted office in the initial office searching stage to hope have lower CAPEX and due to current high renovation cost. But there always challenging to get a suitable fitted office due to some reasons like:

• Timing - as most of the fitted units are still tenanted, so it s very depend if can match to your timing
• Layout - you must accept the fact that hard to get a fitted unit with perfect layout match. Tenant must always prepare to do some necessary touch up and alteration. 
• Condition - As the fitted office normally from previous tenant, so the condition may not in good condition and tenant need to spend a lot to touch up before move in.
• Limited stock and moving fast - As the fitted units always limited and moving fast in the market, tenant hard to secure the unit.

Tenant do need to know the responsibility and the cost when they lease the fitted unit from previous tenant:

• The Reinstatement Clause: When new tenant take over the fitted unit from previous tenant, the will also takin over the obligation to reinstate the office space to original or bare condition. The reinstatement cost may from $15 to $20psf depend on the unit condition and reinstatement requirement
• New fire / electric and building regulation approval  may still be required because the current approval is under previous tenant.
• The cost of touch up and alteration. This may cost a lot especially alteration that required tear and build. New tenant need to caution with the cost