FAQ
 

CHARLES YUE (R001164B)
RETAIL SHOP DIVISION
TEL: 6235 3066
FAX: 6834 2133
GINZA REAL ESTATE PTE LTD (L3007546B)

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  1. FAQ FOR TENANT
  2. FAQ FOR BUYER
  3. FAQ FOR LANDLORD
  4. FAQ FOR SELLER

AS LANDORD - FREQUENTLY ASKED QUESTIONS (F.A.Q)

  1. What is the best way to rent out a shop?
    There are 3 ways:
    i) Do-it-yourself
    ii) Call many agents
    iii) Appoint a sole-agent.
    Appointing a sole-agent will help you to:
    i) Protect your privacy & free your time and avoid annoyance from unsolicited calls from agents & insincere enquiries.
    ii) Maintain your price. iii) Harness other agents service through co-broking.
  2. What should I do if tenant owed me rental?
    Most Tenancy Agreements state that after 7 to 14 days of rent arrear, the Landlord can call off the lease/terminate the contract and re-enter the premises. The landlord can also start legal proceeding to seize the tenant's own belongings & business asset to sell off in an auction to make good the rental arrear. The landlord should not wait beyond 2 months to demand payment.
  3. What follow-up step can I take to ensure my shop still generate rental?
    Step 1 - Inform us about your problem.
    Step 2 - Get an undertaking that the tenant will move out by certain deadline.
    Step 3 - Standby a new Tenant through us.
    Step 4 - Finalise documentation to replace defaulting tenant.
  4. In what conditions should my departing Tenant hand over the shop premises?
    Landlord should instruct departing Tenant to hand over an empty shop free of existing fixtures & fittings. Walls should be white-washed and carpet stripped off leaving raw cement floor or existing tiles. While it may seem wasteful not to retain existing fixtures, often the landlord will waste time & money to get rid of existing fixtures when the new tenant insists on a vacant shop to suit their renovation designs.
  5. How do I know about the market rental?
    All shops in Far East Plaza have been informally valued and given a market price range recommendation. You can come to #05-134B Far East Plaza or call 67326266/ 62353066
  6. What should I be aware when signing a Lease Agreement?
    1) It is better to sign under a personal name as in the case of individual/sole proprietor and partnership. A Pte Ltd may have only S$2 paid up capital and you may not recover debt from the directors/shareholders.
    2) Never fix the rental on the Option Period as it would affect the shop value for rental return & capital value.
    3) Putting the option to renew as " at mutually agreed price" will need to be determined and agreed by 2 parties. "At the future market value" means rent can then be measured & quantify (call us for assistance to express a fair market price).
    4) The Tenancy Agreement should be stamped from the start within 14 days ( or 28 days if the landlord/tenant is stationed oversea). The Tenant pays for both stamp duty and the legal fee/admin fee of landlord & tenant. Landlord to get the copy with the "REPRINT" duplicate agreement).
    5) Never let the Tenant sub-let without your written permission or else you may not trace who is accountable to you for rent & duty to the relevant authorities.
    6) Landlord should quote rental inclusive of maintenance, otherwise landlord is still held responsible for arrear to the Management Corporation.
    7) Call for our assistanceTel: 67326266: If you detect or suspect tenant's conduct as follow: i) Always late in rent. ii) months rent over due. iii) Shop not open for many days. iv)Tenant always asking for rent reduction. v) Tenant want to sub-let. vi) shop already rented to sub-tenant vii) Possibility of tenant running away over-night.
  7. Why is it I always have Tenant problem?
    Possibility that you did not qualify & check tenant's suitability.
    * Business capital * Existing track record
    * Suitability of location for their trade * No tracking on rent delay
    * Absent business ownership * Foreign business ownership
     
    Call us. We provide property management and rental collection. We give a service warranty that should your Tenant quit, we will find another free of commission.
  8. Who can help me to solve my tenants' problems?
    Kindly come down to the Far East Plaza  Tenants/Owners Service Center situated at    #05-134B

          LAST UPDATED ON JULY 2011


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