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Parties negotiating a retail lease will often discuss a kick out clause, which allows for termination of the lease before the expiration of the term if a specific sales threshold has not been met by the tenant.
Commercial Tenants:Tenants must pay their rent on the due date agreed on in the lease with the landlord. Tenants cannot hold back rent because a landlord has failed to fulfill their obligations as outlined in the lease. Tenants must fulfill their obligations as outlined by the lease agreement.
Landlords are normally responsible for any structural repairs needed to maintain commercial properties. This includes exterior walls, foundations, flooring structure and the roof.
Commercial tenants may have the protection of the Landlord and Tenant Act 1954. The Act grants Security of Tenure to tenants who occupy premises for business purposes. The tenancy will continue after the contractual termination date until it is ended in one of the ways specified by the Act.
Your landlord is responsible for any aspects of health and safety written in the lease (eg in communal areas). You must take reasonable steps to make sure your landlord fulfils these responsibilities. If you get into a dispute with your landlord, you need to keep paying rent - otherwise you may be evicted.
A tenant has signed a lease or rental agreement with a landlord. A subtenant is someone who subleases or rents all or part of the rental property from a tenant.
Contents of a lease agreementDescription of the property. Amount of rent and due dates, grace period, late charges. Mode of rent payment. Methods to terminate the agreement prior to the expiration date and charges if any.
Answer. A tenant has signed a lease or rental agreement with a landlord. A subtenant, on the other hand, is someone who subleases or rents all or part of the rental property from a tenant, and does not sign a lease or rental agreement with the landlord.
The responsibilities of landlord and tenant will be clearly set out in the lease. Normally commercial landlords are responsible for any structural repairs such as foundations, flooring, roof and exterior walls, and tenants are responsible for non-structural repairs such as air conditioning or plumbing.
What's The Difference Between A Tenant And A Co-Tenant? A tenant is an individual that rents one of your properties. Co-tenants are two or more people that rent a property together on the same or on separate leases.