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Commercial lease agreements: Important clauses

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Commercial lease agreements: Important clauses

Last updated: September 3 2019
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  • #11

    #11

    Re : Commercial lease agreements: Important clauses

    getintoit it means taking into account all the pr-existing conditions and bargaining on their basis. Things like the inability if the owner to get a tenant before you, the proximity of the property from the station, highway, markets etc., the business prospects in the premises, lack of footfalls and the overall knowledge that you may have about the locality in general. You can think of many such things to bargain.
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    • #12

      #12

      Re : Commercial lease agreements: Important clauses

      Malvish right, got the point!

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      • #13

        #13

        Re : Commercial lease agreements: Important clauses

        Another important factor to look for into a commercial lease agreement is the gross rent lease or net rent lease. To keep it simple there should be clarity between the tenant and the landlord, about the components other than the rent, like property tax, maintenance charges, insurance and expenses towards common areas.
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        • #14

          #14

          Re : Commercial lease agreements: Important clauses

          Malvish Thanks! Can you elaborate on the gross rent lease and net rent lease?

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          • #15

            #15

            Re : Commercial lease agreements: Important clauses

            In a gross rental deed, you will pay the rent and all of the other applicable expenses. In a net lease deed, you will pay only the base rent. In the case of a net lease deed, the rent will be lower but be clear about all the incidental expenses.
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            • #16

              #16

              Re : Commercial lease agreements: Important clauses

              Also, in case of combined electricity bills in commercial lease, the tenant should decide on the percentage or manner of sharing of the bill amount beforehand.
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              • #17

                #17

                Re : Commercial lease agreements: Important clauses

                There is another point to be considered in commercial leases called as competitor clause that doesn't allow any competitor to start business in the same premises.

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                • #18

                  #18

                  Re : Commercial lease agreements: Important clauses

                  How can we stop anyone else from doing the same business in the same premises?

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                  • #19

                    #19

                    Re : Commercial lease agreements: Important clauses

                    In a commercial lease agreement, a competitor clause prevent the landlord, who has more than one unit in the same commercial premises, from leasing out space to a competing business, or a competitor in any business sense.
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                    • #20

                      #20

                      Re : Commercial lease agreements: Important clauses

                      Malvish okay, you meant if the same person owns another unit/s in the premises. Is that allowed? I mean, will the owner of the property agree to such clause easily?

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