Franklin Ohio Waiver of Lease Provision by Lessor

• Category: Oil Gas and Minerals - Waivers
• State: Multi-State
• County: Franklin
• Control #: US-OG-567
• Format: Word; Rich Text

Description

This is a form of a Waiver of Lease Provision (by Lessor). A Franklin Ohio Waiver of Lease Provision by Lessor is a specific clause that can be included in a lease agreement between the lessor (landlord) and the lessee (tenant) in Franklin, Ohio. This provision acts as an agreement by the lessor to waive or relinquish certain rights or conditions stated in the lease. The purpose of this provision is to provide flexibility and options for the tenant in specific situations where the lessor agrees to waive their rights or conditions, potentially allowing the tenant to make changes or adjustments to the leased property. It offers an opportunity for both parties to negotiate terms that may differ from the original lease agreement, providing more freedom and adaptability for the tenant. Several types of Franklin Ohio Waiver of Lease Provisions by Lessor can be named, each catering to different scenarios and circumstances. These may include: 1. Modification or Alteration Waiver: This provision allows the tenant to make modifications or alterations to the leased premises with the lessor's permission, without being in violation of the lease agreement. The provision may specify conditions, limitations, or restrictions for such modifications. 2. Late Rent Payment Penalty Waiver: In this type of waiver provision, the lessor may agree to waive or reduce penalties associated with late rent payments under specific circumstances. This may include allowing a grace period or providing flexibility during unforeseen events or hardships. 3. Assignment or Subletting Waiver: This waiver provision permits the tenant to assign or sublet the leased property to another party without facing penalties or breaching the lease agreement. The lessor may include stipulations regarding the approval process or conditions for such assignments or subleases. 4. Termination Penalty Waiver: This provision allows the tenant to terminate the lease agreement before the specified end date without incurring penalties. The lessor may require the tenant to provide notice within a certain timeframe or meet specific conditions outlined in the waiver. 5. Renewal or Extension Waiver: In this type of waiver provision, the lessor may waive any renewal or extension requirements outlined in the original lease agreement. This allows the tenant to have the option to continue occupying the property beyond the lease term without strict adherence to the lease terms stated initially. It is important for both parties to carefully review and negotiate the terms of any waiver provision before incorporating it into a lease agreement. Seeking legal advice or consulting with a professional real estate agent can ensure that the agreement adequately protects both the lessor's and lessee's interests.

A Franklin Ohio Waiver of Lease Provision by Lessor is a specific clause that can be included in a lease agreement between the lessor (landlord) and the lessee (tenant) in Franklin, Ohio. This provision acts as an agreement by the lessor to waive or relinquish certain rights or conditions stated in the lease. The purpose of this provision is to provide flexibility and options for the tenant in specific situations where the lessor agrees to waive their rights or conditions, potentially allowing the tenant to make changes or adjustments to the leased property. It offers an opportunity for both parties to negotiate terms that may differ from the original lease agreement, providing more freedom and adaptability for the tenant. Several types of Franklin Ohio Waiver of Lease Provisions by Lessor can be named, each catering to different scenarios and circumstances. These may include: 1. Modification or Alteration Waiver: This provision allows the tenant to make modifications or alterations to the leased premises with the lessor's permission, without being in violation of the lease agreement. The provision may specify conditions, limitations, or restrictions for such modifications. 2. Late Rent Payment Penalty Waiver: In this type of waiver provision, the lessor may agree to waive or reduce penalties associated with late rent payments under specific circumstances. This may include allowing a grace period or providing flexibility during unforeseen events or hardships. 3. Assignment or Subletting Waiver: This waiver provision permits the tenant to assign or sublet the leased property to another party without facing penalties or breaching the lease agreement. The lessor may include stipulations regarding the approval process or conditions for such assignments or subleases. 4. Termination Penalty Waiver: This provision allows the tenant to terminate the lease agreement before the specified end date without incurring penalties. The lessor may require the tenant to provide notice within a certain timeframe or meet specific conditions outlined in the waiver. 5. Renewal or Extension Waiver: In this type of waiver provision, the lessor may waive any renewal or extension requirements outlined in the original lease agreement. This allows the tenant to have the option to continue occupying the property beyond the lease term without strict adherence to the lease terms stated initially. It is important for both parties to carefully review and negotiate the terms of any waiver provision before incorporating it into a lease agreement. Seeking legal advice or consulting with a professional real estate agent can ensure that the agreement adequately protects both the lessor's and lessee's interests.