Here’s a breakdown of your situation and some advice on what to do next:
1. **Tenancy Agreement Revision**: If one party becomes unemployed, the tenancy agreement (TA) does not necessarily need to be revised or renewed. However, it’s important to review the terms of your TA to see if there are any clauses related to changes in employment status.
2. **Deposit**: The deposit is typically held as security for the duration of the tenancy. Unless the TA specifies otherwise, the deposit should not be forfeited solely due to a change in employment status. As long as the TA continues and both parties fulfill their obligations, the deposit should remain unchanged.
3. **Next Steps**:
- **Review the TA**: Carefully read through your tenancy agreement to understand any clauses that might be relevant to changes in employment.
- **Communicate with the Landlord**: Inform your landlord about the change in employment status. Open communication can help address any concerns and avoid misunderstandings.
- **Seek Professional Advice**: Consult a property expert or legal advisor to get specific advice tailored to your situation. They can provide guidance on any necessary actions or adjustments to your TA if both landlord and tenant both agree.
WhatsApp me at: ABLE Toh
(65) 9856-9255
or through this link.:https://wa.me/6598569255
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