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Lease Agreement Questions

By December 11, 2020 No Comments

A 3-year lease with an option for an additional two years is applicable under Thai leasing law by 3-year fixed-term measures (Article 538 of the Civil Code and the Code of Commerce). The option for two additional years is considered an enforceable option under general contract law, i.e. against the owner of the property with which you signed the lease, but situations change and the owner cannot grant you a renewal (including a penalty clause). If, for any reason, the new owner owns the transfer of ownership before the expiry of the first 3-year period, it is not automatically bound by an extension option imposed by the previous owner and the option cannot be imposed by a legal action. A rental agreement is binding and if you violate it before sending it in accordance with the terms of the contract, it may affect your rental deposit. Most landlords will not sign, unless you personally guarantee the lease, so you consider yourself extremely happy if you can get away with signing a lease without such a clause. Most leases today are “Triple Net” or net-net, which means you pay rent plus your proportionate share of CAM fees, property taxes and often property repair and maintenance costs. But you can ask the lessor for a CAM Stop lease, so you only pay for an increase in CAM fees and property taxes over your original rental year, often referred to as the “basic year.” It is too late to change the changes after signing a commercial lease for an office building or retail space and the ink is dried. It is essential that you understand the lease conditions, how they affect you, and that you negotiate the best possible transaction for yourself before signing a business lease. It starts with a working knowledge of terms such as “CAM” and arbitration clauses. Sometimes your owner or maintenance professional needs to access your device, but that doesn`t mean they have to come and go as they wish.

Make sure your rental agreement requires a specific notification before they can access your apartment (for example. B 24 hours). Most states have specific laws on the amount of notification required, so check your state`s laws and make sure the lease has the right conditions. Let`s look at 10 questions you need to ask your potential lessor so you can understand the lease before you sign it. Life is unpredictable. There are several reasons why you should break a lease. You have found a job that is not close to you, your home may have mold problems or you will have to upgrade or downgrade your home. Many rental conditions dictate the first of the month, since the daily rent is due, but what happens if you move in on another date? Most of the time, your rent is assessed for the first month by assessment, which means you only pay for the days you are there. The same applies to the end of the term if your lease ends on a different day than the first. It is fairly standard to offer pro-rated rent for the first and last month under these circumstances, so make sure it is written on the lease.

If this is not the case, ask for your rent to be assessed for these periods. Did you know that some homeowners don`t allow you to paint the house in a different color than the one you found? Some landlords have strict rules and you have to ask what they are before signing the lease. Most of the time, the security bonds are returned to the tenants during the extract, provided there is no major damage or chaos.