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The General Process or System of Lease Agreement of Retail Business

Posted on Posted in Business Guidelines

Leasing agreement in commercial center could be done with the owner of the unit if developer had sold the unit or could be performed via Sales office of the commercial center which usually plays intermediary role between owners and applicants.

Leasing time usually is one fiscal year or two, but depends on purchase power and brand power of the applicant. it could be prolonged.

The financial terms in most of the cases consist of a deposit and a rental fee. Portion of Deposit and Rental fee is very different, but it could be said that deposit equals to annual rent in average. There is a rule of thumb practical formula to change deposit to rent, for which 1,000,000 Rials in deposit equals 30,000 Rials monthly rent.

Tenant and owner could extend their agreement one month before the end of time of agreement.

 

FAR Law Firm

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