Renting a property
balwinder
(Querist) 15 April 2014
This query is : Resolved
sir we have rented a property on registered. lease agreement to a multinational company in punjab for a retail mobile showroom.the showroom is being run by a franchisee of the company.however for all practical and legal purpose we have to deal with company only i.e payment of rent etc.now on the expiry of lease period company does not want to extend ourlease.they want us that at our own discretion we may sign fresh agreement with the franchisee.my query is as a landlord are we legally safe to deal with a private party as the property is commercial.if so then what kind of agreement should i sign with indivisual 11 month renewable leave and license or registered lease say for 6 years
ajay sethi
(Expert) 15 April 2014
enter into leave and license agreement for period of say 33 months . get agreement drafted by local lawyer . have it duly stamped and registered .
Devajyoti Barman
(Expert) 15 April 2014
The company was private party and the franchisee is also a private one.
I fail to understand what is difference between the two.
There is no hidden or separate risk involved in entering into agreement with the private party/franchisee.
Go for a fresh 11 months leave and license agreement.
Rajendra K Goyal
(Expert) 15 April 2014
You can enter with the franchisee Leave and License agreement and get it registered. Better get it drafted from your lawyer.
