KShs 3,500.00
A long-term commercial lease agreement between an individual lessor and a company lessee, with terms favoring the lessee, is a legally binding document that outlines the conditions under which the company may occupy and use the property for business purposes. This type of lease typically spans several years, providing stability for the company to establish and grow its operations without the concern of frequent relocations.
The pro-lessee orientation of the agreement often includes clauses that offer rent control, options to renew, subletting rights, and limited responsibilities regarding property maintenance and repairs, thereby reducing the company’s financial and managerial burden. Additionally, such leases may contain provisions that protect the lessee from unforeseen circumstances, such as business interruption or property redevelopment, ensuring that the company’s interests are safeguarded. The individual lessor, in turn, benefits from a steady income stream over an extended period, with the potential for property value appreciation. Both parties are advised to engage legal counsel to ensure that their rights and obligations are clearly defined and that the lease complies with local real estate laws and regulations. A well-drafted long-term commercial lease can be a strategic asset for a company, fostering a conducive environment for business success while aligning with the lessor’s investment goals.
Netsheria maintains an active role in East Africa’s technology ecosystem by providing top-notch legal services to, startups, upcoming innovators and entrepreneurs.
Don’t miss our future updates! Get Subscribed Today!
I & M Bank House 5th Floor, 2nd Ngong Avenue, Upper Hill P. O. Box 22588 – 00505 Upper Hill, Nairobi, Kenya.
©2024. Netsheria International. All Rights Reserved.
