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| Time
and cost savings for JTC’s tenants |
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| CEO
of JTC Chong Lit Cheong viewing
the exhibit. |
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In the past, JTC Corporation required its premises
to be returned to their original condition at the
end of a tenure period.
This meant that outgoing tenants had to incur tearing
down costs, and incoming tenants had to pay for
renovation costs. Furthermore, existing furnishings,
fittings and fixtures went to waste and time was
also wasted in the process.
Ms Lim Teng Geok suggested giving business owners
a choice: An outgoing tenant can opt to either
return the premise to its original condition, or
deposit a sum equivalent to the estimated cost
of returning the premise to its original condition.
On the other hand, an incoming tenant can choose
to accept the condition of the premise, or request
for it to be restored to its original condition.
If the incoming tenant accepts the condition of
the premise, JTC Corporation will return the deposit
to the outgoing tenant.
In addition to taking up Ms Lim’s suggestion,
JTC Corporation allows for deferment of reinstatement
even when there is no immediate taker for a premise.
This means that the outgoing tenant does not have
to reinstate the premise immediately upon
the end of the tenure period. If an interested
party is willing to take over the fixtures and
fittings and move in within six months, the outgoing
tenant need not have to reinstate the premise at
all.
By implementing Ms Lim’s suggestion, JTC
Corporation has demonstrated its concern for businesses
and commitment to help its tenants reduce costs
wherever possible. |
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By
PS21 Office
Next: Anyone can make a big difference
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