Don Wee on Lease Agreements for Retail Premises Bill

The proposed legislation will help to level the playing field for tenants and landlords. It will enhance fairness and transparency during the negotiation process and empower both parties to make informed decisions, said MP Don Wee. Speaking in Parliament on Thursday (Aug 3), he said the Bill supports entrepreneurship by providing businesses with guidance and certainty. “We can expect beneficial change for the whole community, not just the retail sector,” he said. Although some landlords had voluntarily adopted the Code of Conduct, mandating compliance will ensure that all retail tenants will be covered, he said. Mr Wee said this will be helpful for small business owners with limited means and information resources in their negotiations with landlords. He raised concerns about sub-tenants, many of whom are sole proprietors and are common in the heartlands. Mr Wee said they are an important part of the community, providing products and specific services in the housing estates. He wanted to know if they will be able to benefit from the legislation and have access to the information that is available to the main tenants. Mr Wee also called for continued support for such local businesses, saying some are unique in preserving Singapore’s cultural heritage. He said more balanced bargaining power will enable these enterprises to prosper and continue to contribute to the lively nature of the heartland districts. Mr Wee said while the Bill is undeniably a huge step forward in advancing the rights of tenants, more can be done. Monthly updated information on footfall and the average rental per square foot by mall, building and floor should be public information, just like for residential properties, he said. He wanted to know how smaller businesses will be supported in ensuring that they comply with the Code.