Long Term Lease Agreement - Over 7 years

This agreement should be used in cases whereby the Landlord provides the Tenant with the right of lease to the premises for commercial purposes for a period longer than 7 years.

A Lease Agreement template is a contract entered into between two parties whereby one party (the Landlord) provides the other party (the Tenant) with the right of lease to the Premises for commercial purposes. This agreement regulates the relationship between the parties, stipulating the terms and conditions upon which the agreement is based.

This agreement is ideal in cases where someone wishes to lease property for commercial purposes, in exchange for rental. This is a comprehensive agreement which contains the essential clauses necessary to ensure that both parties' interests are protected. There is also the option to either include or exclude security of tenure in terms of the Landlord and Tenant Act 1954.

This agreement should be used in cases where the period of the lease is in excess of 7 years and therefore must be registered with the Land Registry. The agreement contains the prescribed clauses required by the Land Registry to ensure registration of the lease.

This lease agreement template contains the following clauses:
1. Prescribed clauses
2. Definitions
3. Interpretation
4. Letting and Hiring
5. Duration
6. Rent Payments
7. Additional Charges
8. Use of Premises
9. Maintenance and Repairs
10. Statutory and Other Obligations
11. Maintenance of Common Areas
12. Special Provisions
13. Landlord's Right of Access
14. Transfer and Sub-letting
15. Insurance
16. Breach
17. Forfeiture
18. Arbitration
19. Notices
20. Exclusion of Security of Tenure (optional)
21. Governing Law and Jurisdiction
22. Counterparts
23. Signatories