Document background
The Memorandum Of Understanding For Rental Agreement is commonly used in Singapore's property market as a preliminary step before entering into a formal tenancy agreement. It serves to document the initial understanding between parties regarding key rental terms while maintaining flexibility for negotiations. This document is particularly useful when parties need to establish basic terms while conducting due diligence, arranging financing, or awaiting necessary approvals. While non-binding in nature, it typically includes essential details such as property information, proposed rental terms, and conditions precedent to the formal agreement, all within the context of Singapore's property laws and regulations.
