Lawmakers welcomed the move to address the power imbalance between landlords and tenants.
from next February, after parliament passed a new Bill on Thursday .
The code will be administered by the Fair Tenancy Industry Committee and evolve based on industry feedback, Minister of State for Trade and Industry Low Yen Ling said. Additionally, the code also supports a “vibrant and healthy” lifestyle sector and contributes to Singapore’s tourism industry. Steep rental increases of up to 40 per cent from pre-COVID levels, faced by self-employed business ownersMore transparency needed from landlords on service charges
He also highlighted the risk of the recommendations in the code tilting “too much” towards protecting the tenants, should the FTIC have more members who are “pro-tenants”.
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