At first, you might think that for the lease agreement it would be sufficient to just indicate the essential conditions provided by law. However, based on the experience, VigoLex lawyers identify a large number of aspects that will allow avoiding conflict situations between the parties in the future, namely:
It is not enough to verify the legality of the documents of title. It is also important to check the leased property for prohibitions and encumbrances, since the existing rights of third parties to the property may become the basis for deeming the contract invalid.
Firstly, the sublease right should be directly stipulated in the primary lease agreement, and secondly, it should be remembered that the sublessee’s rights are terminated from the moment of the main contract cancellation. Therefore, it is important to designate a settlement of the consequences of such a termination for all parties.
The payment for the leased property use also includes the payment for the land use, on which the building is located. The terms of the land use should be explicitly stated in the agreement. Another important point is how the payment is made: in national currency or using a cash equivalent in foreign currency. Fluctuations in exchange rates have a commercial risk, therefore, it is worth considering the contract currency twice.
- Objective of using the leased property
The owner of a residential house or apartment cannot lease such premises for commercial or industrial use, therefore, you should carefully read the classification of the premises.
- Utilities and other additional payments
This section should be approached quite scrupulously and each item of costs and responsibility for payment should be described in detail.
- Renovations of the premises
Often before moving in, the lessee has to carry out certain renovation works. In such case, it is very important to provide in the contract with step-by-step instructions for agreeing on the procedure for performing and paying for such works.
- Termination of the office lease agreement
The grounds for termination may be different and it is important to describe the possible options for terminating the agreement in detail and clearly. Here it is worth paying attention to the possibility of unilateral termination with prior notification of another party, without obligatory compensation of the forfeit associated with such termination. In addition, it is important to define the terms of the agreement renewal.