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How To Get Out Of A Commercial Lease Agreement In South Africa

Although the rules for terminating a commercial tenancy agreement are obviously stricter than those of residential leases, the two fundamental principles are shared. Although it is possible to terminate a commercial lease prematurely, it does not come without its own effects. If you are thinking for the first time about a new site and the lease, you will be eager to get new offices for your team. However, it is important to read and understand the fine print carefully. Don`t be afraid to ask questions of the owner (or legalian) if you don`t understand what a clause means or how it works. Although at the time, all you can worry about is the condition of the property and the rent, the rest of the contract is as important as it dictates what will happen if things go wrong. The tenant is responsible to the landlord for all amounts against the lessor under the fixed-term tenancy agreement until the termination date. In other words, the tenant remains responsible to the landlord for the rent arrears and all other amounts owed up to the termination date. For more information about our firm and our services, please contact us.

Owners can protect and exercise their legal rights by removing all contrary conditions under Sections 48, 49 and 51 before the commercial lease agreement is entered into and signed by the contracting parties. Although it is not usual, in some cases the lease may not contain an early termination clause. In this case, the tenant must refer to the CPA, which is only necessary if the lease is within the scope of the CPA. Imagine: you are the founder of a successful startup and you have signed a 24-month lease for a traditional office. According to Seeff, you can terminate your existing lease under the Consumer Protection Act (CPA), Section 14, within 20 working days, but do so in writing. Particular attention should be paid to sections 48, 49 and 51 of the CPA. Sections 48 and 49 state that some provisions are unreasonable, inappropriate and unfair. Section 51 contains a list of prohibited transactions, agreements and conditions. Therefore, the lessor is required to ensure that there is no provision in a commercial lease agreement that could conflict with the CPA. The landlord must also credit the tenant with an amount that remains the tenant`s property at the time of termination. This applies only in cases where the tenant decides to terminate the tenancy agreement at any time before the official expiry.

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