A tax levied by the government on all occupiers of commercial property. This charge is approximately 5% of the annual rental payable based on the valuation made by the Rating and Valuation Department and is to be paid quarterly.
Property owners are liable to pay government rent under their land leases and this cost is sometimes passed onto the tenant.
Based on the rent payable and length of lease - normally shared between landlord and tenant. For a lease term of 1-3 years the rate is 0.5% of the average annual rental and for leases over 3 years the rate is equal to 1%.
The difference between gross/lettable area and net usable area - ranges from 65% to 90% of the gross area depending on the building and whether the space occupies a whole floor. Net areas are usually 100% efficient.
Each side normally pay their own legal costs. Insurance The Tenancy Agreement will contain provisions for insurance liabilities. Tenants will normally be required to provide additional cover for contents and public liability.
Nil. Corporate Locations' agency fees are normally paid by the landlords for the successful introduction of a tenant.
Tenants are required to lodge a cash deposit equivalent to 3 months rent, inclusive of service charge and government rates. The deposit is refundable at the end of the lease to the tenant, but without interest.
Upon signing a binding offer/booking form or tenancy agreement the tenant is normally required to make an advanced payment equivalent to one month's gross rent inclusive of service charge and government rates.