Lease Agreement - Long Term

A Lease Agreement, also known as a Business Tenancy Agreement, is a legally binding agreement made between the Landlord and the Tenant which governs the terms and conditions under which the lease is to operate. This agreement is drafted specifically for leases of a commercial nature where the period of the lease is in excess of 7 years.

A Lease Agreement is a legally binding agreement made between the Landlord and the Tenant which governs the terms and conditions under which the lease is to operate. In terms of this agreement, the Landlord grants the Tenant the right of lease over the property, for commercial purposes, and in return for rental.

This agreement is drafted specifically for leases of a commercial nature where the period of the lease is in excess of 7 years. It is a comprehensive agreement containing the essential clauses necessary to ensure that both parties’ interests are protected. There is also the option to either include or exclude security of tenure in terms of the Landlord and Tenant Act 1954. Leases in excess of 7 years must be registered with the Land Registry. This agreement contains the prescribed clauses required by the Land Registry to ensure registration of the lease.

This agreement contains the following clauses:

1. Prescribed clauses
2. Definitions
3. Interpretation
4. Letting and Hiring
5. Duration
6. Rent Payments
7. Additional Charges
8. Use of Premises
9. Maintenance and Repairs
10. Statutory and Other Obligations
11. Maintenance of Common Areas
12. Special Provisions
13. Landlord’s Right of Access
14. Transfer and Sub-letting
15. Insurance
16. Breach
17. Forfeiture
18. Arbitration
19. Notices
20. Exclusion of Security of Tenure (optional)
21. Governing Law and Jurisdiction
22. Counterparts
23. Signatories

Related Documents:

• Lease Agreement - Short Term