- Length:29 pages (8400 words)
- Available in:Microsoft Word DOCXApple PagesRTF
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About this lease
This lease is for a pub or restaurant with a flat over. The premises may be in an urban shop frontage, a stand-alone site or away in the country.
The lease is drawn for maximum protection of landlord’s interests. It is very thorough with many simple options where choices are possible.
Where relevant, the lease includes matters relating to licences and the Liquor Act.
The lease has been drawn to prefer the interest of the landlord rather than the tenant.
The law relating to this lease
Commercial leases differ significantly from residential leases. Residential leases are highly regulated. In contrast, commercial leases in Canada are governed chiefly by common law and are very loosely regulated. The rights and obligations of the landlord and tenant are mainly a matter of contract between the parties.
This lease agreement is comprehensive, providing alternative choices for important decisions.
The contents include 27 provisions and 2 schedules covering:
- rent: period, amount, other payments, interest on overdue rent, periodic review;
- condition and repair;
- tenant's positive obligations;
- tenant's obligations for residential space;
- service charge recovery;
- restrictions on tenant: prohibited activities on the property;
- signs and advertisements;
- assignment of the lease;
- indemnities by the tenant;
- security deposit;
- access for landlord;
- termination: default notice by landlord; provision for premature termination (a break clause);
- Schedule 1: rights reserved
- Schedule 2: draft agreement for a security deposit
I found the notes very helpful.
All rights reserved