LEASE RENT
sumit
(Querist) 12 May 2010
This query is : Resolved
IS THIS CLAUSE OK
That this lease is granted for a period two years only commencing from 01/06/2010 to 30/05//2012, This lease maybe further extended only on mutual consent of both the parties, with a enhancement of the rent 10 % in the prevailing rent. However in case of extnsion of lease aa fresh agreemnt will be made and signed by the lessor and lessee.
Pls advice as asap
sumit
(Querist) 12 May 2010
Thank u Vishal ji
just an add on
does the above clause simply mean that the agreement can only be extended if there is mutual consent or that if the lesse increses the rent by 10% the lessor is bound to extend the agreement.
P.S - we just want a two year agreemnt and only after that want to decide.. Therefore does this clause binds us in anwway
G. ARAVINTHAN
(Expert) 12 May 2010
This is called as renewal clause
A V Vishal
(Expert) 12 May 2010
Mutual consent is the main ingredient, extension of lease will entitle 10% increase, however, in better interest be silent on the increment part and just keep the condition of renewal on mutual consent of both the parties and at such terms at the time of extension of the lease.
Ashok Yadav
(Expert) 12 May 2010
If u want to save urself completly you should not write any thing about extension of lease in this lease deed. If both the parties agreed to extend lease at the time of determination of the present lease you may enter into a new lease without any hurdle on new terms and conditions and new rent shall be decide at that time.
Kumar Thadhani
(Expert) 12 May 2010
Yes I will agree with expert Mr Vishal & Mr Yadav.
sanjeev murthy desai
(Expert) 12 May 2010
Dear Sumit,
Please clarify that said inhancement of 10% rent amount for every year or two years?.
