Streak Legals

 Vijyant Nigam

 23 Years Exp

 Commercial Shop Rental Agreement (Show More)

 Lucknow , Industria Area Chinhat

 View Answers by this Partner (1)

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Information

When you wish to open a shop/store of some kind in a shopping complex, isolated building or any spot of your choice, you will need to prepare a store lease. The lease will be signed between the owner of the business and the landlord.

Such leases are governed by the Rent Control Act and are binding. Hence, proceeding without a contract is like leaving a ticking legal bomb.

Any individual above the age of 18 can enter into a commercial store lease. Companies and business too can be the lessee in a store lease. Any person wishing to open a store in a place available for rent can enter into a store lease.
What Should Be Included In The Contract?

Being different from a rental deed, a commercial store lease needs to pay attention to a host of clauses that is necessary for a business. Let’s take a look at some such clauses

    Base rent, deposit, maintenance charges
    Addition/ alteration to structures
    Right to sublease
    Working hours in the property
    Consequences of breach of contract
    Terms and conditions of renewal
    Code compliance


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Enter the code :

Name : Vijyant Nigam

Law Firm Name : Streak Legals

Country : India

City : Lucknow

State : UTTAR PRADESH

Practicing Since: 2002

About Your Firm : Working in the legal field, conveyancing, litigation, drafting, vetting, agreements, MOUs, Contract, Registration, Notaries

Manpower/Employee Details

Sr Employee Associated Sr Employee Enrollment/Reg.No Sr Employee Enrollment/Reg.State
Vijyant Nigam 9809/2002 Bar Council Of Uttar PRadesh
Jr Employee Associated Jr Employee Enrollment/Reg.No Jr Employee Enrollment/Reg.State

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Subject :  Difference between a "mortgage" and a "lease"?
Question :  What is the difference between a "mortgage" and a "lease" Please explain

Answer by Streak Legals :  Much difference Mortgage means to put something as guarantee against any loan or advances from any FI, viz/ bank or financial institution. Lease means to lease out any property by its owner to someone for a certain period of time against which the owner of the property will get rent.