The Formal Tenancy Agreement is a essential legal document used in Singapore's property rental market to establish a binding relationship between landlord and tenant. This document is required whenever a residential property is leased for a term typically ranging from 12 months to 3 years. It incorporates provisions mandated by Singapore law, including URA guidelines and relevant HDB regulations for public housing. The agreement protects both parties' interests by clearly defining rights, responsibilities, and remedies while ensuring compliance with local property regulations and standard market practices.
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Key Requirements PROMPT example:
Formal Tenancy Agreement
"I need a Formal Tenancy Agreement for a furnished 3-bedroom condo in Singapore that I'm renting out to an expatriate family from March 2025, with specific clauses about maintenance of the high-end appliances and restrictions on pet ownership."
1. Parties: Identification and details of landlord and tenant
2. Background: Context of the tenancy arrangement and recitals
3. Definitions: Key terms used throughout the agreement
4. Property Details: Specific description and address of the rental property
5. Term of Lease: Duration of tenancy, commencement and end dates
6. Rent and Payment Terms: Rental amount, payment schedule, method and late payment provisions
7. Security Deposit: Amount, terms of holding and return conditions
8. Tenant Obligations: Responsibilities and restrictions on tenant including maintenance, repair and proper use
9. Landlord Obligations: Responsibilities and commitments of landlord including maintenance and statutory compliance
10. Termination Provisions: Conditions and process for ending the tenancy, including notice periods
1. Furniture and Fittings: Detailed provisions regarding furnished properties and inventory management
2. Utilities and Services: Responsibility for utility payments, maintenance services and other charges
3. Renovation/Alteration Rights: Terms and conditions for property modifications and improvements
4. Sub-letting Provisions: Terms and conditions for sub-letting or assignment if permitted
5. Insurance Requirements: Specifications for required insurance coverage by either party
1. Schedule 1 - Inventory List: Detailed list of furniture, appliances and items provided with the property
2. Schedule 2 - Condition Report: Comprehensive report on the state of property at commencement of tenancy
3. Schedule 3 - House Rules: Specific rules for property use, maintenance and conduct
4. Schedule 4 - Floor Plan: Layout and dimensions of the property
5. Schedule 5 - Photographic Evidence: Documentary photographs of property condition at commencement
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