Viruses are pesky organisms. We try ways and means to stop their evildoing yet somehow, they find new ways of showing up. A new strain of the unfairavirus, referred to as B.4.444, or the suredie variant, started surfacing in Singapore…. Read More ›
Code of Conduct
Our first Fair Tenancy info session after the release of the retail premises’ Code of Conduct. Luke kindly offered to host at his Walking on Sunshine. With us are Bahar (Ayam Penyat), Serene (Ah Mah Homemade Cake), Shiv (Ministry of Burger), Willa (Riders Cafe) and Yuan (Prive).
The Code of Conduct for Leasing of Retail Premises in Singapore released on 26 Mar 2021 brought many cheers from the retailers. While the Fair Tenancy Pro Tem Committee proposed to the government that the Code of Conduct be mandatory, the proposal still has to go through legislative due process for the code to have any legal teeth.
“What is important is that the Singaporean Government has again shown how progressive it is, and always a step ahead. It’s not just about bailout packages (which are important especially during this crisis), but also thinking about ways to improve the future. The government never ceases nor fails to impress.”
If you live near a sewage treatment plant, you may initially find the stench unbearable. Over time, however, you get used to it. You’ll hardly even notice it. Over the years, many entrepreneurs who are new to retail have asked what is considered a healthy or acceptable rent-to-sales ratio.
After more than 9 months of deliberation, the Fair Tenancy Pro Tem Committee chaired by Michael Lim Choo San, Chairman of Nomura Singapore, submits its report to the Minister for Trade and Industry and Minister for Home Affairs & Minister for Law. A key recommendation is the enactment of a mandatory code of conduct governing the leasing of retail premises that landlords and tenants alike have to abide by.