Without reading the full contract details, its a difficult one. but i would think they may well be within their rights. However, you may be able to sublet...their must be plenting of willing people waiting for the opportunity ....what kind of food are you making, what location, and what's the monthly rental....there may well be people on the forum, that have an interest in sharing costs, or taking over!d4vid wrote:I'm currently a tenant of a stall in a Food Cout establishment in Singapore. I want to stop because it's not profitable and I keep losing money every month. When I talked to the Food Court management that I want to stop, they were furious and threaten to sue me because within the contract it is stated that if a tenant decides to stop within the 3yr, the tenant will have to pay the remaining rent until the end of 3yr contract.
When I signed the contract I didn't read this term and I know it's my fault to be so careless in signing it. If I had known such term I wouldn't sign it.
Can you guys help me as I'm in a very difficult situation now? I cannot continue running the stall as I keep losing money. In addition, recently our main cook had resigned.
If you have heard and had similar experience please share with me. Do you think they'll really sue me of the remaining rent? that would amount to around $200k, which for sure I don't have that much money
Thanks for reading and any reply.
Btw, is it a standard lease contract in Singapore? I mean the tenant must serve the entire term of the contract? I thought I will only lose my deposit if I stop before the contract ends.ksl wrote: Without reading the full contract details, its a difficult one. but i would think they may well be within their rights. However, you may be able to sublet...their must be plenting of willing people waiting for the opportunity ....what kind of food are you making, what location, and what's the monthly rental....there may well be people on the forum, that have an interest in sharing costs, or taking over!
Wow very expensive, for a stall, although i don't know the standard rates for that area.d4vid wrote:We're making Indonesian food at Toa Payoh Central, monthly rental is $6k.ksl wrote: Without reading the full contract details, its a difficult one. but i would think they may well be within their rights. However, you may be able to sublet...their must be plenting of willing people waiting for the opportunity ....what kind of food are you making, what location, and what's the monthly rental....there may well be people on the forum, that have an interest in sharing costs, or taking over!
Please PM me if anyone interested in taking over the stall. There won't be any takeover fee. We'll leave the fridge, burners, rice cooker, etc. for you to use.
Btw, is it a standard lease contract in Singapore? I mean the tenant must serve the entire term of the contract? I thought I will only lose my deposit if I stop before the contract ends.
Although i would suggest getting someone, with knowledge to go through your contract, if the landlord can knock it down to one year, if you can guarantor.maneo is basically correct
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