S'pore nightlife industry group supports fair-tenancy lobby committee

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 51 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

THE Singapore Nightlife Business Association (SNBA), which represents over 300 businesses, has thrown its weight behind a group lobbying for legislation to address what they perceive as an imbalance of power between landlords and tenants. Read more at The Business Times.

This comes as"tensions between landlords and tenants have been ongoing and especially heightened during the Covid-19 pandemic", and many landlords were"not swift" in passing on the government tax rebates which has led to closure risks for many businesses, Mr Ong added.

In a poll of its members, SNBA found that over 93 per cent were the most concerned about rents, as that is their largest operating expense. Also, 69.2 per cent of them responded that they do not foresee landlords providing further rental relief if their businesses have to remain closed after the"circuit-breaker" period.

The FTFIC has proposed the setting up of a Fair Tenancy Commission. SNBA said that if this commission is established and the recommendations are legislated, it foresees a"more balanced landlord-tenant relationship and a fairer and more efficient ecosystem for businesses to thrive in". Meanwhile, the Competition and Consumer Commission of Singapore is also looking into the private retail lease market, given the growing unhappiness among mall tenants towards their perceived unequal relationship with landlords and unfair clauses in tenancy agreements.For daily updates on weekdays and specially selected content for the weekend. Subscribe to

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Reducing migrant worker population will affect Singapore's competitive edge, lead to higher costs: Industry groupsSINGAPORE: A reduction in the number of foreign workers in Singapore would have multiple implications on the economy and businesses, and also have ... It's not about reducing our migrant worker population, but improving living standards, first by properly enforcing existing rules, then seeing if they can be improved. Then we can have a sensible debate about how that leads to higher costs and how to manage the tradeoffs. Find decent, humane and clean environments for them to stay and work. This should hve been a priority from start vs onky now it has been realised and too late with the pandemic. Really meh? As we see it, costs r already rising like nobody business.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »