lessor Tag

A business leasing premises should be aware of the payments they need to make to the lessor. Not only does a lessee need to pay rent but they may be required to make additional payments termed as outgoings. Payment of outgoings is quite common in leases. It is important to note what the term “outgoings” covers and how a lessee can determine the amount to pay on top of their rent....

It is not enough to simply vacate the lease premises if a clause imposes an obligation to make good the premises. It is important for lessees to identify what making good the premises means and what actions they need to undertake if they identify such a clause is inserted in their lease.  What is a Make Good Clause?   At the end of the lease, the lessee will have...

  Leases often come with a possibility to extend the lease for a certain period of time. This is considered a lease option period and if the lessee wants to pursue extending their lease, there will be obligations and deadlines the lessee must achieve to be granted the lease extension.   Renewal Requirements Note that a renewal...

  There are many costs to leasing a premises, not just rent and outgoings. One of these costs may include a lessor’s mortgagee consent fee. Not only is it important for lessees to be able to identify what this cost is, but it is important that both lessors and lessees be aware it is lawful to make the lessee pay the consent fee....