Fixed Term Lease

Fixed Term Lease

A lease binding the parties to each other for a specified period of time, such as a month or a year. That is, the fixed-term lease requires the lessee to make periodic payments and requires the lessor to surrender use of his/her property. A fixed term lease is also called (somewhat misleadingly) a tenancy for years.
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"If it is a fixed term lease agreement, and there is no way that tenants can't terminate the contract early before the agreed period, then it would be very difficult for them to get out of the whole arrangement," Yasin Chowdhury, a legal consultant said.
Following the acquisition of the complex, which is subject to a 12-year fixed term lease agreement with the operator Ramsay Sante, part of Group Ramsay Health Care (ASX:RHC), Icade Sante expands its partnerships with operators to eight, owning a total of 57 facilities, it said.
'No business can be absolutely certain about the future, so for many the option to be able to stay as long as they like without the commitment to a fixed term lease is very attractive,' she said.