In addition, the amended lease removes a previously included 10-acre parcel of developable land from the tenants' demised premises
, which will allow the REIT to pursue future development opportunities on land adjacent to the building.
Rentable area shall be worked out as the inner to inner dimensions of the external walls of the demised premises
AFOR the purposes of CRAR, rent means the amount payable under a lease for the possession and use of the demised premises
, and does not include any sum in respect of rates, council tax, services, repairs, maintenance, insurance or other ancillary matters (whether or not called rent in the lease).
Given the inherent inequity of a full rent abatement under the circumstances presented here and modern realities that a commercial lessee is free to negotiate appropriate lease terms, we see no need to apply a rule, derived from feudal concepts, that any intrusion--no matter how small--on the demised premises
must result in fall rent abatement.
Many leases will contain the right to use a car parking space allocated to the flat rather than a parking space being included in the demised premises
The means by which rent review clauses afford landlords relief in respect of increases in property values or falls in the value of money is by providing, normally, for a valuer, in default of agreement, to assess the up-to-date rent for the demised premises
at successive review dates.
But I've been refused permission by the freeholder's agent because the deeds to my flat state that the "under lessee is not to cut, maim or remove the walls, girders, beams or timbers of the demised premises
They are allowed to remain in the demised premises
even after expiry of the original term until they wish to vacate or until the landlord can show one of the statutory grounds for termination;
Simon's right to possess the demised premises
under the Lease Agreement shall Cease at Midnight on March 16, 2004.
Sarah Downer said: "This will include taking on board the duty that a landlord certainly does have not to unreasonably withold consent from tenants who want to make alterations to the demised premises
in this connection.
The traditional way to derive this percentage is to divide the area of the tenant's demised premises
by the total area of the property.
MRA is actively marketing a contiguous 30,000-square-foot ground floor portion of the project to medical users that provides multiple points of direct access from the parking areas to the demised premises
, tenant controlled HVAC, sub-metered power and lighting, as well as self-contained restroom facilities.