The License Agreement For Rental Property is utilized in Singapore when parties wish to establish a flexible arrangement for property use without the full commitments of a lease. This document is particularly relevant for short-term arrangements, corporate housing, or situations requiring specific use limitations. It addresses key aspects such as duration, permitted use, fees, maintenance responsibilities, and termination rights, while ensuring compliance with Singapore's property regulations, including URA guidelines and minimum stay requirements. The agreement provides legal protection for both parties while maintaining operational flexibility.
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1. Parties: Identification and details of the licensor and licensee
2. Background: Context of the agreement and property details
3. Definitions: Key terms used throughout the agreement
4. Grant of License: Terms of the license, including duration and permitted use
5. License Fee and Deposits: Payment terms, security deposit, and other financial obligations
6. Licensee's Obligations: Key responsibilities and restrictions on the licensee
7. Licensor's Obligations: Key responsibilities of the licensor
8. Termination: Conditions and process for ending the agreement
9. Governing Law: Specification of Singapore law and jurisdiction
1. Utilities and Services: Details of utility arrangements and additional services when not included in license fee
2. Insurance: Insurance requirements and obligations when specific coverage is required
3. Quiet Enjoyment: Guarantees of peaceful occupation for longer-term arrangements
4. Force Majeure: Provisions for unforeseen circumstances when extended term or significant investments involved
5. Assignment and Sublicensing: Rules regarding transfer of rights when relevant to property type or duration
1. Property Description: Detailed description of the licensed premises including floor plans
2. Inventory List: List of furniture, fixtures, and equipment included
3. House Rules: Specific rules and regulations for the property
4. Fee Schedule: Breakdown of fees, deposits, and payment schedules
5. Condition Report: Documentation of property condition at commencement
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