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Leasing Procedures

LETTER OF OFFER

Upon mutual agreement of the heads of terms, the Landlord shall proceed to issue a Letter Of Offer ("LOF") which outlines the general tenancy terms upon which the agreement is based on. The Tenant is thereafter required to respond within the specified grace period to accept the Landlord's offer with the required deposit payment (non-refundable) to confirm and secure the premises.

TENANCY DOCUMENTATION AND SECURITY DEPOSITS

Upon signing the Letter of Offer, the draft of the Tenancy Agreement will come into place. In most cases, the Landlord's standard tenancy agreement will be adopted as major amendments are unlikely and easier for the Landlord to control the multiple tenancies within the building. The Tenants are advised to peruse the agreement clauses thoroughly before signing and to raise and resolve any ambiguous issues or to revise the clauses until mutual agreement is achieved. Where large organization is involved, lawyers may be appointed by both Tenant and Landlord to advise on the agreement matters.

The following deposit payments requirements are generrally imposed by the Landlord:

• Booking Deposit equivalent to 1 month's rental

• Security Deposit equivalent to 3 months' rental

• Utilities Deposit equivalent to 0.5 month's rental

TAKING POSSESSION AND MOVING IN

Upon signing of the LOF and full payment of the required deposits, the Tenant shall take possession of the  premises to commence the space planning and design works. The duration of fit-out period is subject to the area of space taken up and is clearly specified in the LOF. A minimum of one (1) month rent-free fit-out period is usually granted by the Landlord. Tenant is advised to peruse the Tenants Manual / Renovation Guide Book provided by the Landlord to ensure full compliance in order to avoid unnecessary fine compounds.


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