Leasing terms and specifications in rental agreement

If you require a business premises for short term then taking on lease is the right option than going for license. The term may vary between 3 months to one year or even more. Signing a rental agreement is necessary before you take up some premises for establishing your office. Leasing is booking some property for rent for certain period and borrowing the property from the owner for your use. Leasing agreements are done for 3 years and sometimes for 10 years also. Each year the lease is extended for another year with the same client if both the owner and the tenant are satisfied with the requirements and conditions. You must have oral discussions with the landlord regarding the amount of lease before signing the document. New code of practice has recently been launched for leasing property for commercial uses. If you are the landlord you should consult an attorney for drafting the copy of rental agreement. Similarly the tenant will also prepare separate copy of lease agreement from his side. If the parties have any dispute regarding the amount of rent or lease, you can have negotiations before finalizing the deal. Ensure that you have taken into account the state laws and codes in which you are residing. Apart from rental amount, you have to make clear the leasing details such as length of lease, break clauses and service charges. Length of lease is the period for which you are renting the premises and service charges is the fees required to be paid by you or the landlord for the property. Dilapidation is the amount payable by...

Tips for writing a rental agreement

Once you have decided to rent your property for lease it is right time to write a professional rental agreement. Writing the document will protect your rights if something goes wrong or any other kind of disputes with tenant. If you have a lease agreement properly drafted which contains all the essential elements then you need not bother even if your property got damaged incidentally or purposefully by the tenant. You can initiate actions by filing the agreement copy with the court and use it as a valid proof for claim. It is better to go through a sample of agreement before you actually draft your copy. Sometimes, you may forget to include certain points if you are preparing the document on your own. Nowadays you have plenty of options to see a sample rental agreement over internet. Gather as much points as you can and note it down if it is relevant to your property. You can note down about the essential points to be included in rental agreement. You can always download it from the website as a free template and customize your needs in the format. Add or edit any points, which you may consider necessary. You can save lot of time if you could find one copy that fairly matches your requirement. What you need to do is to edit the relevant particulars such as name and identity and replace it by your name and address. You should spend quality time on doing research before you finalize your rental agreement copy. By reading through number of samples you can get fair idea of what are...

Non Disclosure Agreement Template Keeping Your

When a company or organization is new, business owners are usually willing to work with partners and third-party companies that can help the business grow. However, as time goes on and the company develops successful ways of dealing with clients and suppliers, trade secrets are often shared. Sharing too much sensitive information can be the downfall of any company, and its important that you have the proper legal documents handy when you are entering into a new partnership with a third party. The need for a Non Disclosure Agreement Template If youve ever thought about bringing in a contract technical writer to help your team create a new user guide, or been interested in using a professional marketing firm to help you develop your new advertising campaign, then you need to know about the utility of a Non Disclosure Agreement Template. In both of the aforementioned scenarios, you would need to share sensitive information about products that have not yet hit the market with these third-parties. If information about these products was leaked to the public, intentionally or accidentally, it could be disastrous for your brand. What is a Non Disclosure Agreement Template? Creating documents that are legally binding can be difficult for those that have no legal background. Thats why its better to use a template Non Disclosure Agreement that already contains all the necessary legal information to make sure that your information is protected at all times. The template can be downloaded in a matter of minutes, and easily opened through your existing Microsoft Word program. The document is easy to customize and can be transferred to...

Is a UK Prenuptial Agreement Legal?

The UK Prenuptial Agreement is becoming more common. But what is the legal position? A prenuptial agreement (or prenup) is drawn up prior to marriage by a couple to specify how their assets will be divided if they should end up divorcing. Normally this will mean that any assets taken into a marriage by an individual will revert to their possession if the marriage breaks up. It should also mean there will be no squabbles over who takes what in the case of a divorce. The Prenup avoids added trauma when a marriage ends. Emotion at such times are raw, and this can only be worsened if there is a battle over assets. If who owns what is laid out in advance in a Prenuptial Agreement, such unpleasantness may be avoided. However, when it comes to people living in the United Kingdom, is the Prenuptial Agreement legal? It’s certainly not illegal. However, a prenup has no actual legal status in the UK. But this should not mean that you and your former spouse should refrain from making such an agreement. In a case which gained much publicity, the Supreme Court in England did take a UK Prenuptial Agreement into account when protecting the assets of heiress from her former husband. So although the prenup is not legally recognised at the moment, it looks like it will start to carry more weight in court. So if you are thinking about making a UK Prenup, you should carry on. But make sure that it is watertight to ensure that any United Kingdom court will accept it. Strangely, if the couple lives...

Payment For Untaken Holiday In A Compromise Agreement

If you are entering into a compromise agreement with your employer, it may set out a number of different payments that you are entitled to receive. This should include payment for accrued but untaken holiday. The minimum amount of holiday that any employee is entitled to is 5.6 weeks per year. For most full time employees this adds up to 28 days per year. The total is inclusive of bank holidays. Usually, an employee is not allowed to receive a payment in substitute for not taking their holiday. However, the exception to this is where your employment is terminated part way through the holiday year, for example under a compromise agreement. In these circumstances, the law requires the employer to pay you for any untaken holiday. The payment due should be set out in your compromise agreement. It is usually calculated on the basis of the annual salary divided by the number of working days for each day’s holiday entitlement. The relevant calculation for a full time worker is 1/260. Holiday accrues at the rate of 0.46 weeks per month. For a full time worker, this would be 2.3 days per month. Often, the compromise agreement states precisely how many days’ accrued but untaken holiday you will be entitled to. However, if this is not stated, you may want to ask your employer for a breakdown of how much you should expect. Payment for accrued but untaken holiday will always be taxable up to the termination date. It would not therefore be appropriate for the compromise agreement to include it as part of a tax-free compensation payment. Instead it...
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