Shopping Centers Lease Agreement
If the tenant wants to prohibit the landlord from renting land in the mall to a competitor, the prohibition must be an explicit provision of the rental agreement. Prohibited activities must be clearly defined to be applicable. There is also a priority among rental prohibitions, so any rental contract that was in force in the past will have priority over subsequent leases in the same shopping centre. A potential new tenant should determine whether existing tenants have exclusive provisions that may affect their authorized activities in the rental room. Who`s the tenant? Is it a partnership? If this is the case, the owner should ensure that all partners sign in person. Is the tenant a business? If so, make sure the document is signed by the company. Is there a guarantor? If this is the case, make sure that the surety signs the lease and that the terms of the lease are sufficient to bind the guarantor. Again, what is the quality of the alliances? As a general rule, a commercial tenancy agreement requires the tenant to bear its proportionate share of the maintenance costs of common areas (CAM). There are several factors to consider when calculating the costs of the CAM. The tenant`s proportional share in CAM is generally calculated as a rental square metre of tenant number divided by the entire rented area in the property. Each tenant pays their share for the use of common areas.
In particular, the lease agreement should determine the costs it contains, such as utilities, land maintenance, etc. Sometimes a lease defines basic annual costs and provides for annual increases beyond basic annual costs. There may be a cap on the increase in the MAC, which is limited either by a percentage cap or by a certain dollar cap. An alternative to the annual increases in LA CAM is to apply a fixed rate for CAM fees. In addition, the landlord`s tenancy agreement generally contains a clause that gives the lessor`s insurance company the right to transfer. one. What does that mean? This means that, despite the fact that the tenant may have caused “a fire” (or some other type of danger) in which insurance revenues must be paid by the insurers to the insured (landlord), the landlords can continue to sue the tenant. It is not uncommon for the tenant to ensure that the tenancy agreement includes a waiver of this right of cancellation. As a general rule, such an assignment requires the written consent of the lessor. The lessor may have the right to withhold such consent inappropriately or must act reasonably according to the wording of the lease. The tenancy agreement should be very specific from the tenant`s point of view to indicate that the tenant is not responsible for repairs or replacements.
You can also define what structural repairs mean, including roof replacement. 30. That in the event of force majeure, if the degrading premises are rendered unusable, the contract is suspended from the date of the written notification of the SECOND PARTY to the FIRST PARTY and that SECOND PARTY does not have to pay any rental and maintenance costs during the suspension period. : by breaching an explicit contract in the lease; in violation of a tacit contract in the lease; or in violation of a legal obligation to the tenant. 34. that, in view of the rent agreed here and all payments to the FIRST FEST under this agreement, regularly by the SECOND PARTY and other conditions and alliances that are respected in the second part by the SECOND PARTY, the SECOND PARTY, the premises demagogues benefit peacefully, during the duration of this sublease contract. , without interruption by the FIRST FEST, space premises.