The Condo Lease Agreement is essential for residential property leasing in Singapore's robust real estate market. This document is used when a property owner wishes to lease their condominium unit to a tenant, whether local or foreign. It encompasses crucial elements such as rental terms, security deposits, maintenance obligations, and compliance with MCST regulations. The agreement must adhere to Singapore's property laws and regulations, including the Building Maintenance and Strata Management Act. It serves as a comprehensive legal framework protecting both landlord and tenant interests while ensuring compliance with condominium management rules.
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Key Requirements PROMPT example:
Condo Lease Agreement
"I need a Condo Lease Agreement for a furnished 3-bedroom unit in Singapore, with a diplomatic clause for my expatriate tenant and specific provisions for pet ownership, starting from March 2025 for a two-year term."
1. Parties: Identification and details of landlord and tenant
2. Background: Context of the lease agreement and property details
3. Definitions: Key terms used tHRoughout the agreement
4. Property Description: Detailed description of the leased premises including address, unit number, and included areas
5. Term and Rent: Lease duration, rental amount, payment schedule and method
6. Security Deposit: Amount, payment terms and conditions for return of security deposit
7. Utilities and Maintenance: Responsibilities for utilities payment and property maintenance
8. Use of Property: Permitted use of property and restrictions
9. Obligations of the Landlord: Landlord's responsibilities and commitments
10. Obligations of the Tenant: Tenant's responsibilities and commitments
11. Insurance: Required insurance coverage and responsibilities
12. Default and Remedies: Consequences of breach and available remedies
13. Termination: Conditions and procedures for ending the lease
14. Notices: Method and addresses for formal communications
15. Governing Law: Applicable law and jurisdiction
1. Option to Renew: Terms for lease renewal and extension procedures
2. Diplomatic Clause: Early termination rights for expatriates in case of job loss or relocation
3. Pet Clause: Terms and conditions regarding keeping pets in the property
4. En Bloc Sale Clause: Provisions in case of collective sale of the development
5. Subletting and Assignment: Terms regarding subletting or assigning the lease to third parties
6. Renovation and Alterations: Conditions for making changes to the property
1. Schedule 1 - Inventory List: Detailed list of furniture, appliances and fittings included in the lease
2. Schedule 2 - House Rules: Condominium management rules and regulations
3. Schedule 3 - Property Condition Report: Detailed documentation of property condition at handover
4. Schedule 4 - Maintenance Schedule: Schedule of regular maintenance responsibilities
5. Schedule 5 - Floor Plan: Layout plan of the property
6. Schedule 6 - Special Conditions: Any additional terms or conditions agreed between parties
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