The security deposit clause – Property in Singapore for sale
The deposit (also referred to as the security deposit) is usually paid before commencement of the lease. The security deposit is to be held by the landlord as security against the breach of any covenants or conditions of the tenancy and such deposit shall be refundable free of interest at the end of the tenancy less deductions for damages caused by the negligence of the tenant and of any breach of the tenancy. Such security deposit is not to be used to off set any rent in arrears. Property in Singapore for sale. The market practice is for the landlord to ask for one month deposit for every year of lease period. For example, if it is a two-year lease, the security deposit is usually two months.
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