This office lease clause provides the tenant with a right of first refusal if additional space becomes available within the building.
Missouri Expansion Option Clause
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Multi-State
Control #:
US-OL24032
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How to fill out Expansion Option Clause?
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FAQ
Limits on Rent Increases Landlords cannot raise rent more than 10% total or 5% plus the percentage change in the cost of living ? whichever is lower ? over a 12-month period.
Missouri lease laws also do not regulate the frequency or amount of rent increases. Keep in mind that in Missouri, tenants have the right to withhold rent and "repair and deduct" if you as the landlord fail to conduct necessary maintenance and repairs.
Generally speaking, Missouri is considered a landlord-friendly state. That's because there are no laws that control rental, evictions can be carried out relatively quickly, and landlords have few habitability obligations. The following is a basic guide to the statewide Missouri landlord-tenant laws.
A Missouri rent-to-own lease agreement is a document that rents property to a qualified tenant and gives an option to buy. The landlord will commonly screen the tenant and require proof of funds to purchase the property.
Missouri doesn't have rent control laws, meaning landlords can increase the rent by any amount they see fit. It's generally recommended to avoid overcharging since this will lead to less interest from prospective tenants or current tenants moving out.
Landlords cannot refuse to sell, rent, sublease or otherwise make housing available based on a renter's race, color, religion, sex, disability, familial status or national origin. Landlords also cannot charge some individuals higher rent or falsely state that housing is not available for discriminatory reasons.
In fact, an option to purchase constitutes a unilateral promise to contract by which the landlord binds itself to sell its building to the tenant, who is the beneficiary of the promise. If the tenant decides to exercise its option, the parties are then obligated to complete the sale of the building.
The expansion clause in commercial leases is a negotiable agreement between the landlord and tenant that permits the tenant an equitable right to expand within the building or property they are being leased.