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World Infromation / Blog : No.12966 : Aassignment of HDB commercial and industrial tenancies








Posted by on June 02, 2014 at 16:24:36:

Aassignment of HDB commercial and industrial tenancies





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  • No:12967 *From 16 Oct 2013, assignment of new commercial and industrial tenancies is no allowe.

    * Existing tenants are given a 3year grace period to assign their shops or industrial premises till 15 Oct 2016.

    *Existing commercial or industrial tenancies that commenced before 16 Oct 1998 will be given grace period of 6 years to assign their premises until 15 Oct 2019.

    *The assignee can opt to takeover the tenancy at either the balance(remaining) term under the current tenant or opt for fresh 1, 2 or 3 year term.The proposed rent would remain at the existing rent.
    For fresh term, the proposed rent would be revised to the prevailing market rent or remain at the existing rent, whichever is higher.

    *No rentfree fittingup period would be given to the new tenant (assignee). The assignment of the premises is on a “asitis” condition

    *Admin Fee

    $100 (exclusive of GST) for balance term
    $200 (exclusive of GST) for fresh 1, 2 or 3year term

    *Application for assignment can be submitted online via Online Business Licensing Service (OBLS).
    https://licences.business.gov.sg/SHINE/sop/WebPageHandler?p=OASISamp;pn=SelectLicences&LicenceID=1409

    *Application for assignment industrial tenancies :www.hbiz.gov.sg
    New tenant must apply: www.ias.nea.gov.sg
    12:50:42 04/06/14
    Link:




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