Document background
The Letter of Intent to Renew Lease is a crucial document in Singapore's property market that initiates the lease renewal process. It is typically used when an existing tenant wishes to continue occupying a property beyond the current lease term. This document helps establish clear communication between parties and outlines key terms for negotiation. While not legally binding, it demonstrates serious intent and typically includes proposed renewal terms, timeline, and any desired modifications to the existing agreement. Under Singapore law, this document serves as a precursor to the formal lease renewal agreement.
