Travis Texas Surface Tenant's Consent and Subordination (to Storage Lease)
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FAQ
A subordination clause is a lease provision whereby the tenant subordinates its possessory interest in the leased premises to a third-party lender, usually a bank (the rights of the tenant are thus subject to the rights of the lender).
Attornment is the act of granting authority or jurisdiction to a party even though no legal rights exist. It applies mainly to real estate transactions and may occur when a tenant acknowledges a new owner of the property as their new landlord.
Leased Premises means an area forming part of the Property, assigned to the LESSEE for its exclusive use under this Contract, per Lease Schedule.
Section 8.1 Use of Premises. The Premises shall be occupied and used by Tenant solely for the purpose of conducting therein the Permitted Use. Tenant expressly acknowledges that its Permitted Use is nonexclusive, and that other tenants or owners in the Center may conduct business which is similar to that of the Tenant.
Here are some of the most important items to cover in your lease or rental agreement. Names of all tenants.Limits on occupancy.Term of the tenancy.Rent.Deposits and fees.Repairs and maintenance.Entry to rental property.Restrictions on tenant illegal activity.
A net lease is a lease structure that places the responsibility of building expenses on the tenant, in addition to the rent paid. Those operations costs include property taxes, insurance, and maintenance; creating a passive income stream for the landlord.
The most important clause to landlords is the duty of the tenant to pay the rent in full and on time. This includes the right to charge a fee for damages if payment is late. Other important clauses grant the landlord the right to enforce the rules and regulations written into the lease.
Tenant shall only use the Premises as a residence. The Premises shall not be used to carry on any type of business or trade without prior written consent of the Landlord. Tenant will comply with all laws, rules, ordinances, statutes and orders regarding the use of the Premises.
The use clause in a lease tells you how you can utilize your space. It may restrict your lines of business, stipulate office hours that you must adhere to and place restrictions on advertising signage on the premises.
