Search
  • Laurie & Shapoor

Implications and Legal Ramifications of a Commercial Lease

> Crucial Parameters:

-Term

-Rent

-Repairs

-Expenses

-Type of Business Allowed

> Different Rent Calculations:

- Percentage Rent Lease:  (Base Rent + Percentage based on your Sales)

- Gross Rent Lease:  (Base Rent + Other specific Expenses)

1-Net Lease: Base Rent + Some of the Taxes

2-Double Net Lease: Base Rent + Taxes and Insurance

3-Triple Net Lease: Base Rent + Taxes and Insurance + Operating and maintenance cost


> Term of the Lease, Watch out for Automatic Renewal clause or clauses that require you to provide Written Notice to the landlord.

-Fixed Term

-Renewable Period

> Register your commercial lease at the Land Registry Office. This prevents eviction prior to expiry of your lease term



8 views0 comments