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Vendor/Buyer/Landlord/
Tenant |
Individual or corporate |
Individual or corporate |
Agreed Sale Price /
Monthly Rent |
Agreed the sale price subject to contract |
Payable in advance on a monthly basis. Rent usually excludes utilities bills and inclusive of building management fee, government rent and rates. |
| Legal Fee |
Both vendor and buyer pay for their own legal fee |
If require solicitor to issue tenancy agreement, each parties bear its own costs |
| Lease Term |
Not applicable |
Lease term is 2 years with 1 year break clause
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| Deposit |
Usually
1) 3% - 5% deposit upon signing the provisional sales and purchase agreement
2) 14 days after signing the provisional sales and purchase agreement to pay the balance of 10% and sign the formal sales and purchase agreement
3) balance of fund to be paid 45 days after signing formal sales and purchase agreement for completion |
Usually
1) one month rent upon signing the provisional tenancy agreement
2) two months rent as security deposit upon signing the formal tenancy agreement |
| Stamp Duty |
Please refer to our stamp duty table |
Payable to the government based on the average annual rental and the length of the tenancy and which shall be, usually shared equally between the landlord and the tenant |
| Government Rent and Rate |
Usually
Rent – 3% of the ratable value of the property
Rate – 5% of the ratable value of the property |
Usually pay by landlord as the rental is inclusive of government rent and rate |
| Building Management Fee |
Payable by owner. The fee is depends on the building management company, it is quoted on per square foot per month and is non-negotiable. |
Usually pay by the landlord as the rental is inclusive of building management fee |
| Utilities Bill |
Payable by owner – electricity, water, telephone/internet, gas, other outgoings |
Payable by tenant – electricity, water, telephone/internet, gas, other outgoings |
