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Renewal Of Rent Agreement

It also allows homeowners to terminate the contract if they want to renovate or occupy the property for other reasons. If the correct legal termination procedures are followed, the lessor or tenant can terminate the contract at any time, depending on the fixed term that suits them best. Most leases are valid for a period of 12 months and, when that lease expires, the tenant and lessor must decide whether the lease should be renewed. Tenants often stay when the rent is reasonable, maintenance issues are taken care of and the location works for them. Landlords will want to renew themselves if the tenant pays the rent on time and takes good care of the property. The fixed term guarantees that the property you rent will offer you the same conditions at least until the end of the period. This first extension period is in accordance with this agreement, and the rent that the tenant must pay to the lessor during the option period is increased by 8% of the monthly rent on each anniversary of the start of the option. » “… is a provision that can be found, if at all, with the tacit intent of the parties …

The Court does not easily introduce a tacit term. It cannot enter into contracts for individuals; nor can it complete the agreement of the parties simply because it might be reasonable. Before it can imply an unspoken clause, the Court of Justice must necessarily be satisfied, by reasonably and commercially considering the contractual terms and admissible evidence of the circumstances, that the parties intend to enter into contracts on the basis of the proposed clause.” Finding a new tenant can cost you time and money, as well as rent. If your tenant has kept the rent late many times or has broken the rules of the tenancy agreement, you may not want to renew the tenancy agreement. In such a situation, it might be useful to look for a more reliable tenant. As a tenant, you save time and money by not having to look for a new apartment, pack your belongings, rent movers, pay a broker and pay double rent for a certain number of days. Also, if the landlord and tenant have a good relationship, they can avoid a lot of problems and fear of dealing with unknown parties. As of November 1, 2007, the parties entered into a lease for a commercial property in Paarl to operate the operations of a gas station.

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