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Say someone has a new commercial B2 light industrial unit, TOP soon.

 

How does one go about looking for tenant? assuming without agents' involvement? is it possible for the owner to settle the tenancy?

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still need to draft tenancy agreement. I believe there would be a lot of paper work involved especially if its commercial property

ok, i guess through agents will be easier then. they should be able to settle the paperwork and advertisements.

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Bro, it is highly possible for the owner to DIY and save on the agent fees (both for the first engagement and subsequent renewal fees). I have personally done that a few times before. Advertising for tenants in the classifieds had always sufficed for my needs in a reasonably good market.

 

The downside of DIY is that you spend more time "screening" the potential tenants. However that can be considered a plus point since you get to meet the tenants personally before letting them use your unit. Most commercial tenants will renew at market rate once their original contracts expire so there won't be much issue of repeating this search every now and then.

 

Also, if you wish, I can send you a copy of the standard tenancy agreement that I have in Word format so that you can make the necessary adjustments e.g. rental fee, address, etc.

 

Last but not least, remember to ask the tenant to stamp the tenancy agreement with IRAS (they bear the fee).

 

All the best!

 

 

Say someone has a new commercial B2 light industrial unit, TOP soon.

 

How does one go about looking for tenant? assuming without agents' involvement? is it possible for the owner to settle the tenancy?

 

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Bro, it is highly possible for the owner to DIY and save on the agent fees (both for the first engagement and subsequent renewal fees). I have personally done that a few times before. Advertising for tenants in the classifieds had always sufficed for my needs in a reasonably good market.

 

The downside of DIY is that you spend more time "screening" the potential tenants. However that can be considered a plus point since you get to meet the tenants personally before letting them use your unit. Most commercial tenants will renew at market rate once their original contracts expire so there won't be much issue of repeating this search every now and then.

 

Also, if you wish, I can send you a copy of the standard tenancy agreement that I have in Word format so that you can make the necessary adjustments e.g. rental fee, address, etc.

 

Last but not least, remember to ask the tenant to stamp the tenancy agreement with IRAS (they bear the fee).

 

 

All the best!

 

 

 

thanks bro! I PM my email account to u.

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Turbocharged

Bro, it is highly possible for the owner to DIY and save on the agent fees (both for the first engagement and subsequent renewal fees). I have personally done that a few times before. Advertising for tenants in the classifieds had always sufficed for my needs in a reasonably good market.

 

The downside of DIY is that you spend more time "screening" the potential tenants. However that can be considered a plus point since you get to meet the tenants personally before letting them use your unit. Most commercial tenants will renew at market rate once their original contracts expire so there won't be much issue of repeating this search every now and then.

 

Also, if you wish, I can send you a copy of the standard tenancy agreement that I have in Word format so that you can make the necessary adjustments e.g. rental fee, address, etc.

 

Last but not least, remember to ask the tenant to stamp the tenancy agreement with IRAS (they bear the fee).

 

All the best!

 

 

 

 

Any ideas what happens if the tenant did not stamp the agreement with iras? I usually ask my tenant to do it but I nvr ask for proof of receipt. Thanks.

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Any ideas what happens if the tenant did not stamp the agreement with iras? I usually ask my tenant to do it but I nvr ask for proof of receipt. Thanks.

If not stamped, it cannot be used in court if any dispute.....

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There will be penalties that will be imposed by IRAS in the event stamping of the tenancy agreement is not done or is carried out late.

 

http://www.iras.gov.sg/irasHome/news.aspx?id=1024

 

Any ideas what happens if the tenant did not stamp the agreement with iras? I usually ask my tenant to do it but I nvr ask for proof of receipt. Thanks.

 

Edited by OmOm
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Thanks for the info.

 

Anyone looking to tenant or buy a commercial unit, you know who to look for......... [wave][wave]

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Thanks for the info.

 

Anyone looking to tenant or buy a commercial unit, you know who to look for......... [wave][wave]

 

 

no pantang ah..i keep my coffins der :D:D:D

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http://www.straitstimes.com/lifestyle/fashion/cautious-consumers-falling-retail-sales-high-cost-and-strong-dollar-leading-to

 

 

 

 

 

Ms Christine Li, director of research at commercial real estate firm Cushman & Wakefield, says: "Retailers from luxury fashion to F&B are currently facing a triple whammy of muted tourism growth, manpower crunch and the growing popularity of e-commerce, which make it harder to start, operate and sustain a business."



Not super high rentals meh?
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