Rent Clause is a legal provision in a lease that outlines the terms of rental payments and the consequences of non-payment. It typically includes the amount of rent due each month, the date by which the rent must be paid, and the allowable methods of payment. It may also specify the amount of any late fees or other penalties for non-payment of rent and an explanation of the eviction process. There are two types of Rent Clause: 1. Fixed Rent Clause: This clause specifies a set amount of rent each month that is due on a specific date. It is typically used when the rental amount does not change over the course of the lease. 2. Variable Rent Clause: This clause provides for a variable rent amount each month, which is determined by a predetermined formula. This clause is commonly used in leases for properties that are subject to certain market conditions, such as real estate taxes, which may fluctuate over the term of the lease.
Rent Clause
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FAQ
Percentage Rent is a rent payment structure where the tenant pays rent as a percentage of sales in addition to a minimum base rent (?Minimum Base Rent?) or in lieu of a Minimum Base Rent.
Use Clauses This clause defines how the tenant can and can't use the property they're leasing. The use clause may be very specific, so it's important that you read its terms carefully.
Minimum rent is a rent that is also known as fixed rent, dead rent, contract rent, rock rent, or flat rent. It is the minimum sum that is given to the lessor of a property by the lessee so that the lessor receives a minimum amount of sum for a specific period.
The Landlord lets to the Tenant the Premises for a period of TENANCY TERM on an Assured Shorthold Tenancy Agreement. The Tenancy shall start on and include the START DATE and shall end on and include the END DATE, but subject to a break clause, if applicable, as per Clause A Individually Negotiated Clauses.
Tenant hereby agrees to pay Landlord the following amount per month as rent ("Rent") during the course of this Lease term: $ ( dollars). Rent shall be due each month on the first day of the month. Rent shall be considered advance payment for that month.