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How to Save Commercial Lease Agreement in PNG

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hi everyone this is Peter Harris from commercial property advisors comm and co-author of this book commercial real estate investing for dummies as well as coach and mentor to many commercial investors all across America the subject and title of todays video is called the master lease agreement for commercial real estate so lets get started the master lease agreement is probably my one of my most favorite ways to buy commercial real estate especially if you have no experience you have no credit you have a very small down payment but most of all you dont want to do banks and it works with apartments with office buildings with with strip centers with mobile home parks it was sub storage so pretty much anything commercial where is income involved the master lease agreement will most likely work one of the most famous master lease deals you ever come across is New Yorks Empire State Building now that building that particular building has a current master leases over a hundred years old

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How do you draw up a commercial lease agreement?

What to include in a commercial tenancy agreement Details around the terms of the agreement. Use of the property. The landlords responsibilities. The tenants responsibilities. Rent amount and payment method. Guidance on breaking or renewing the contract. Provisions based on the nature of the property or business.

Why register a lease on title Ontario?

Registering a Notice of Lease gives the public notice of the rights you have negotiated in your lease and protects your priority over subsequent encumbrancers. Contact Real Estate Lawyer Noah Potechin if you would like to see if it is possible to have a Notice of Lease registered on title to your landlords lands.

How much notice is required to terminate a lease in Quebec?

For leases of 12 months or longer, the notice must be given at least 3 months and not more than 6 months before the end of the lease. For the lease of a room the notice is of not less than ten days nor more than twenty days (article 1942 Civil Code of Quebec).

What needs to be in a commercial lease agreement?

The lease terms, such as the lease type, length, and start and end dates. The rent details, including the amount, payment frequency, and whether the tenant pays service charges. The responsibility for utilities, insurance payments, and maintenance, such as who is obligated to pay for which expenses.

What happens if a lease is not registered?

It is the tenants responsibility to complete the registration. Failure to register the lease within the relevant time period means it is not a valid legal lease and only takes effect as an equitable lease, or possibly a legal periodic tenancy. This can leave tenants in a vulnerable position

Does a commercial lease need to be registered?

When does a commercial lease need to be registered? Modern commercial leases are normally required to be registered if theyre granted for a period of more than seven years. If the period is for less than seven years, then registration typically isnt needed.

Why register a lease in Quebec?

You register the lease by giving notice to the land register and it allows any interested party to see that a building is subject to a lease. This registration protects the tenant by ensuring that the new buyer of the building cannot terminate the lease before the end of its term.

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