This is an agreement between two parties (the “lessor” and “lessee”) that regulates their relationship in relation to the property that is being let out and highlights the obligations of both parties premised on the lessor allowing the lessee use and enjoy their property in exchange for a certain sum of money (rentals). Leases relate to the occupation of property (immovable) and can be for either residential or commercial premises. For commercial lease agreements that extend for a period of more than 10 years there is a requirement that they be registered in accordance with the provisions of the Deeds Registries Act.
A lease agreement can be in writing or verbal, although you it is advisable to have a lease agreement that is in writing. It is difficult to prove the obligations of the parties basing on a verbal lease agreement, a written contract makes it easier for both parties. The lease agreement must capture the following details:
- Name, surname and identity details of the lessor and lessee;
- Property description (address, extent);
- Rental sum;
- Deposit / security
- Duration of the lease agreement;
- Amendment of the agreement;
- Terms and conditions on cancellation and breach of the agreement be either party;
- Duties and obligations of both parties;
- Notice period;
- Termination of the agreement;
- Dispute resolution
FAILURE TO PAY RENTALS
Where a party is failing to pay rentals the lessor may exercise their right to terminate the agreement by virtue of breach of the material terms of the agreement. In the event that the lessee remains in occupation of the premises after the lapse of the notice period the Lessor is entitled to claim holding over damages, legal costs and any other costs depending on the agreement between the parties. Where the tenant won’t leave the premises after such termination the Lessor may approach the courts for relief (eviction of the tenant). Summons may be issued for the eviction of the lessee and all those claiming occupation through the lessee.
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This is for general information purposes only – consult an Attorney