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Letter Of Intent To Renew Lease for Singapore

Letter Of Intent To Renew Lease Template for Singapore

A Letter of Intent to Renew Lease is a formal document used in Singapore to express a tenant's interest in extending their existing lease agreement. This document, while not legally binding, serves as a preliminary step in lease renewal negotiations under Singapore law. It typically outlines proposed terms, timeline for negotiation, and any modifications to the existing lease terms, providing a framework for subsequent formal lease renewal agreements.

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What is a Letter Of Intent To Renew Lease?

The Letter of Intent to Renew Lease is a crucial document in Singapore's property market that initiates the lease renewal process. It is typically used when an existing tenant wishes to continue occupying a property beyond the current lease term. This document helps establish clear communication between parties and outlines key terms for negotiation. While not legally binding, it demonstrates serious intent and typically includes proposed renewal terms, timeline, and any desired modifications to the existing agreement. Under Singapore law, this document serves as a precursor to the formal lease renewal agreement.

What sections should be included in a Letter Of Intent To Renew Lease?

1. Current Lease Reference: Details of the existing lease agreement including dates and parties

2. Property Details: Clear identification of the leased premises including address and any relevant property identifiers

3. Intent Declaration: Formal statement expressing intention to renew the lease

4. Proposed Terms: Outline of key terms for renewal including proposed duration and rental amount

5. Timeline: Proposed timeline for negotiation and execution of renewal

What sections are optional to include in a Letter Of Intent To Renew Lease?

1. Conditions Precedent: Any conditions that must be met before renewal can proceed

2. Proposed Modifications: Any proposed changes to existing lease terms

3. Due Diligence Period: Timeframe for property inspection or review (typically for commercial properties)

4. Confidentiality Clause: Provisions regarding confidentiality of negotiations and terms

5. Good Faith Declaration: Statement of intent to negotiate in good faith

What schedules should be included in a Letter Of Intent To Renew Lease?

1. Schedule A - Current Lease Agreement: Copy of existing lease agreement for reference

2. Schedule B - Property Floor Plan: Current layout and floor plan of the premises

3. Schedule C - Building Inspection Report: Recent inspection report of the property (if applicable)

4. Schedule D - Proposed New Terms: Detailed list of proposed modifications to existing lease terms

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Singapore

Publisher

Ƶ

Document Type

Letter of Intent

Cost

Free to use
Relevant legal definitions















Clauses















Industries

Conveyancing and Law of Property Act: Primary legislation governing property transactions and real estate matters in Singapore (Cap. 61)

Civil Law Act: Fundamental legislation governing civil matters and contracts in Singapore (Cap. 43)

Planning Act: Regulates the development and use of land and buildings in Singapore (Cap. 232)

Land Titles Act: Governs the registration and transfer of land titles in Singapore (Cap. 157)

Housing and Development Act: Regulates public housing (HDB properties) in Singapore

Residential Property Act: Governs the purchase and ownership of private residential properties in Singapore

COVID-19 (Temporary Measures) Act 2020: Temporary legislation providing relief measures for property-related obligations during COVID-19

Control of Rent Act: Regulates rental matters for commercial properties in Singapore

Building Control Act: Regulates the construction and maintenance of buildings in Singapore

Stamp Duties Act: Governs stamp duty obligations for property transactions in Singapore

Real Estate Developers Act: Controls and licenses real estate development activities in Singapore

Building Maintenance and Strata Management Act: Regulates the management and maintenance of strata-titled properties in Singapore

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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