Yes, you can still sell your condo in Singapore even if you have an existing tenancy agreement with a tenant. There are two main options:
**1. Selling with Tenancy:**
* This means the buyer purchases the property with the existing tenant in place.
* The tenancy agreement remains valid, and the buyer becomes the new landlord, taking over your responsibilities and rights under the existing agreement.
* This option is attractive to investors looking for immediate rental income.
* The tenant's continued occupancy may affect the property's sale price.
**2. Selling with Vacant Possession:**
* This means the property will be vacant upon completion of the sale.
* You'll need to terminate the existing tenancy agreement with the tenant, either by mutual agreement or by providing the required notice period as stated in the agreement.
* This option might appeal to buyers who intend to occupy the property themselves.
* It may take longer to sell the property, as you'll need to wait for the tenancy to end or negotiate an early termination.
**Important Considerations:**
* **Tenancy Agreement:** Review your tenancy agreement carefully for any clauses related to the sale of the property. Some agreements might have provisions for early termination in case of a sale.
* **Tenant's Rights:** Tenants have certain rights, even when the property is being sold. You cannot force them to leave before the end of their lease unless there is a valid reason and proper notice is given.
* **Communication:** Open communication with both your tenant and potential buyers is crucial. Be transparent about the tenancy situation and ensure everyone understands the terms and expectations.
* **Legal Advice:** If you have any doubts or concerns, consult with a lawyer specializing in property law to understand your rights and obligations as a landlord.
Ultimately, the decision to sell with tenancy or vacant possession depends on your personal circumstances and preferences. Consider the potential impact on the sale price, timeline, and your relationship with the tenant before making a decision.
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5.7.3 If at any time during the Term the Landlord proposes to sell the Premises, to permit persons with written authority from the Landlord or the Landlord’s agent at reasonable times with prior appointment to view the Premises. However, the said Premises shall be sold subject to this tenancy.
My problem is that the agent that in charge of this agreement claim that if I want to sell, I have to give compensation to the tenant and if tenant don't agree for the sale of my apartment, I cannot sell it. Is there a such rule in Singapore? In my tenancy agreement I do see any such clause.