Edward Chia on Lease Agreements for Retail Premises Bill
Proposed legislation to mandate leasing principles for retail premises will support SMEs and address the imbalances they have faced in lease agreements, said MP Edward Chia in Parliament on Thursday (Aug 3). However, he asked if the Bill can explicitly specify the types of charges that can be reasonably passed through to tenants to prevent unwarranted additional costs. He said he had received feedback from SMEs that they are being charged for extra miscellaneous costs such as “meter reading fees” in addition to electricity charges. Mr Chia asked if the Bill can specify technology adoption such as digital meters which will also help tenants monitor and reduce their energy consumption, thus supporting Singapore’s Green Plan. He also suggested clearer guidelines for renegotiating lease agreements during adverse situations and for non-compliance by errant landlords when both parties agree on deviations in leasing principles.
Proposed legislation to mandate leasing principles for retail premises will support SMEs and address the imbalances they have faced in lease agreements, said MP Edward Chia in Parliament on Thursday (Aug 3). However, he asked if the Bill can explicitly specify the types of charges that can be reasonably passed through to tenants to prevent unwarranted additional costs. He said he had received feedback from SMEs that they are being charged for extra miscellaneous costs such as “meter reading fees” in addition to electricity charges. Mr Chia asked if the Bill can specify technology adoption such as digital meters which will also help tenants monitor and reduce their energy consumption, thus supporting Singapore’s Green Plan. He also suggested clearer guidelines for renegotiating lease agreements during adverse situations and for non-compliance by errant landlords when both parties agree on deviations in leasing principles.
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