Agreement Template / December 4, 2018 / Daphne Pope
Lease agreement is generally a long term rental contract lasting for 5-10 years depending on the mutual terms and conditions between the tenant and the landlord. There are different types of template based on whether the property is residential or commercial. Although there are many elements that are same for both residential and commercial property there are few differences that set the two lease agreement apart. It is therefore important to guarantee that right agreement template is selected to protect the interest of the property and avoid any dispute whatsoever in the future. Commercial lease are often longer compared to a residential lease and will list down several people that may include the landlords the investors the tenants and any other person who has a stake in the property.
People that want a lease agreement typically are typing them up all the time and want access to a template that they can use over and over but before we dive into where we can find these templates lets break-down what a lease agreement is and the types of leases that exist out there. Standard Lease Agreement is the most common agreement among residential dwellings it is a legal document between a person that owns property ("Landlord") and someone that is occupying the property ("Tenant") in exchange for monthly rent. The form can be for any amount of time but most often you see a one year term. You cannot cancel this type of legal document but if you lose your job or a special situation arises you should speak to your Landlord and try to negotiate some type of deal.
Assigning geographical boundaries: A franchise has to have a geographical boundary within which the franchisor should not establish another franchise. This goes in the interest of the franchisee to have that added from a Franchise agreement template in the final contract so that there are no competitors in your territory. Time period of the Agreement: This has to be defined with reference to your investment. With larger investment the time period of the agreement has to be proportionately more. Not settling on a time period could be disastrous. Royalties fee and total anticipated investment: The fee for getting the franchise royalty for using the trademark and brand name and the anticipated investment in the business have to be agreed upon in the agreement.