SINGAPORE - The Competition and Consumer Commission of Singapore is looking into the private retail lease market amid a chorus of complaints by mall tenants of an imbalance of bargaining power with landlords and unfair clauses in tenancy agreements.
The aim is to help CCCS better understand the market structure and identify any anti-competitive practices, according to a circular to various trade associations seen by The Straits Times. Previous market studies conducted by the CCCS, including on the online travel booking sector and formula milk, have concluded with recommendations to improve market functioning, such as legislative changes.
SG Tenants United For Fairness , an informal grouping of more than 700 tenants of private landlords formed in February, told ST it has been working with SRA and RAS on recommendations for fair tenancy legislation and will have more to share on the issue soon. The majority of mall landlords have not stepped up to offer rental assistance beyond the mandatory passing on of government property tax rebates, the group said.