Briefly Outline the Typical Covenants in a Commercial Lease

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The Answer is There are a number of features typical in a commercial lease,including the following terms:
• The tenant is responsible for repairs unless the lease imposes some obligation on the landlord.
• The tenant is entitled to exclusive and quiet possession of the premises for the full term.In return,the tenant must pay rent and observe the terms of the lease.
• The tenant cannot withhold rent,even if the landlord fails to meet a requirement in the lease.The tenant's remedy is to claim compensation from the landlord while continuing to pay rent.
• The tenant cannot terminate the lease and move out unless the landlord's breach of the lease has made the premises uninhabitable for normal purposes.
• Ordinarily,the tenant can assign the lease or sublet the property to another tenant.It is common for the lease to require the landlord's consent for both of these arrangements.Such leases normally also provide that the landlord's consent may not be unreasonably withheld.

Briefly Outline the Typical Covenants in a Commercial Lease

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Briefly Outline the Typical Covenants in a Commercial Lease

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Correct Answer:
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