• Lease (Residential Premises)

Lease (Residential Premises)

R380

Contract summary:
When you lease residential property (such as a house, flat or townhouse), you need to make sure that both the landlord and the tenant know what their rights and obligations are. In other words, all the parties should be completely clear about the terms and conditions on which the tenant will be allowed to let and occupy the property. A residential lease is the comprehensive agreement used to set out all of these terms and conditions.
This agreement is for residential properties (such as houses, flats, garden cottages, townhouses and any rooms contained therein). If you want to lease a commercial property such as a shop or office, then use our commercial lease.
Our residential lease is a full-length comprehensive lease which includes detailed, customised clauses on all aspects of the letting transaction. Some of the issues dealt with include the amount and calculation of the rental, the manner in which it will be paid and the maintenance of all aspects of the property. Any additional charges to be paid by the tenant will also be specified and the provision of security by the tenant is provided for. The agreement gives the landlord effective legal remedies if the tenant breaches its obligations under the agreement and also ensures that there is no uncertainty in relation to the amounts to be paid by the tenant.
Put simply, leasing a residential property without a comprehensive lease is a recipe for disaster. Our professionally drafted, customised and comprehensive lease makes sure you’re properly protected. This agreement is suitable for use by letting agents as well as by individuals.
Full details of the contract:
The drafting process utilized for the residential lease agreement includes the following capabilities:
  • All types of residential accommodation are catered for, including furnished, semi-furnished or unfurnished flats, apartments, houses (single or double storey), townhouses, duplexes, garden flats or single rooms in a house or apartment.
  • The agreement provides for a single tenant or for two tenants who agree to be jointly and severally liable in terms of the agreement.
  • Full details of every party signing the lease agreement are inserted, including full names, identity or passport numbers, addresses, contact numbers and email.
  • Corporate entities are also catered for, including private and public companies, close corporations, trusts, partnerships, sole proprietorships and registered or unregistered voluntary associations.
  • In the event of a corporate entity being a party to the commercial lease agreement, provision is made for the full identification of the entity’s representative and protection against insolvency or potential insolvency is catered for.
  • The agreement includes exhaustive terms relating to the payment of rental and provision is made for escalation, or for variable rental – in both the initial period and any renewal periods. Rental adjustments to take account of inflation or increased property charges are also dealt with.
  • Leases that are subject to a head-lease or other limitations are catered for.
  • Any additional charges payable by the tenant are addressed, including municipal charges like electricity and water, levies or pro rata contributions payable in respect of the property in which the premises are situated and security charges. Provision for the payment of estate/managing agent’s commission or fees can also be included.
  • A complete range of measures securing the landlord is accommodated, included the provision of a deposit, the protection of the landlord’s tacit hypothec, indemnities and, if requested, deeds of suretyship.
  • Terms relating to the manner in which rental is to be paid are incorporated, including the due date(s) for payment, the method and place of payment and the administrative charges and penalty interest payable in the event of late payment.
  • The lease period is comprehensively canvassed, including the commencement date and term of the lease (whether fixed or indefinite), as well as the details applicable to renewal periods and the suspension of the lease period in the event of renovations and/or the partial destruction of the premises.
  • The parties’ residual obligations relating to maintenance of the premises, pets, the number of occupants allowed in the premises, house rules, insurance, alterations and fixtures, access to the premises, subletting and transfers of ownership, warranties, cession, and more, are all dealt with in detail.
  • A full range of measures are included to protect the landlord in the event of a breach by the tenant. These include a comprehensive description of events constituting breach, issues of jurisdiction, certificates of indebtedness, joint and several liability, legal costs, service addresses and, if requested, provision for arbitration.
The contents and terms of each residential lease agreement are dependent on the responses given during the online interview process. As a result, the above list constitutes a broad overview of the issues typically addressed in the document and is not intended to be comprehensive.