The Non Exclusive Lease agreement is a crucial document used in the Indian real estate market when a property owner wishes to retain the right to lease portions of the same property to multiple tenants. This arrangement is particularly common in commercial buildings, shopping centers, and shared office spaces. The document is governed by Indian law, specifically the Transfer of Property Act, 1882, and various state-specific regulations. It includes essential provisions for rent, tenure, maintenance, utilities, and clearly defines the non-exclusive nature of the arrangement. This type of lease is distinct from exclusive lease agreements as it explicitly permits the landlord to grant similar rights to other tenants, making it particularly suitable for multi-tenant properties while protecting the interests of all parties involved.
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1. Parties: Identification and details of the lessor and lessee, including their legal status and addresses
2. Background: Context of the lease arrangement and brief description of the property
3. Definitions: Definitions of key terms used throughout the lease agreement
4. Demise: Formal grant of lease and specification of non-exclusive nature of the arrangement
5. Term and Renewal: Duration of lease, commencement date, and renewal provisions
6. Rent and Payment Terms: Rent amount, payment schedule, mode of payment, and escalation clauses
7. Security Deposit: Amount, payment terms, and conditions for refund of security deposit
8. Permitted Use: Specified purposes for which the property may be used
9. Maintenance and Repairs: Responsibilities of parties regarding property maintenance and repairs
10. Utilities and Outgoings: Responsibility for payment of utilities, taxes, and other charges
11. Insurance: Insurance requirements for both parties
12. Lessor's Covenants: Obligations and warranties of the property owner
13. Lessee's Covenants: Obligations and warranties of the tenant
14. Termination: Grounds and procedure for termination of lease
15. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction
16. Notices: Method and addresses for serving notices between parties
1. Property Management: Include when property is part of a managed complex or building with specific management rules
2. Fit-out Works: Include when tenant is permitted to carry out modifications or improvements
3. Common Areas: Include when property includes shared facilities or spaces
4. Sub-letting and Assignment: Include when sub-letting or assignment rights are to be specifically addressed
5. Force Majeure: Include when specific provisions for unforeseen circumstances are required
6. Environmental Compliance: Include for properties where environmental regulations are significant
7. Parking: Include when parking facilities are part of the lease
8. Signage Rights: Include when tenant requires specific rights to display signs or advertising
9. Break Clause: Include when early termination options are to be provided
1. Property Description: Detailed description of the leased property including boundaries and measurements
2. Rent Schedule: Detailed breakdown of rent payments and escalation schedule
3. Inventory: List of fixtures, fittings, and equipment included in the lease
4. House Rules: Building or complex rules and regulations
5. Plan/Layout: Floor plan or property layout drawings
6. Service Charges: Breakdown of maintenance and service charges if applicable
7. Handover Protocol: Condition report and handover procedures
8. Permitted Alterations: Specifications of allowed modifications to the property
Relevant legal definitions
Agreement
Applicable Laws
Building
Business Days
Commencement Date
Common Areas
Demised Premises
Effective Date
Force Majeure
Initial Term
Lease Period
Lease Year
Lessee
Lessor
Maintenance Charges
Monthly Rent
Normal Business Hours
Other Tenants
Permitted Use
Property
Renewal Term
Rent
Security Deposit
Service Charges
Stamp Duty
Taxes
Term
Termination Date
Utilities
Working Hours
Common Facilities
Shared Spaces
Building Rules
Property Manager
Lease Deed
Schedule of Payments
Occupancy Rights
Maintenance Services
Insurance Requirements
Notice Period
Applicable Laws
Building
Business Days
Commencement Date
Common Areas
Demised Premises
Effective Date
Force Majeure
Initial Term
Lease Period
Lease Year
Lessee
Lessor
Maintenance Charges
Monthly Rent
Normal Business Hours
Other Tenants
Permitted Use
Property
Renewal Term
Rent
Security Deposit
Service Charges
Stamp Duty
Taxes
Term
Termination Date
Utilities
Working Hours
Common Facilities
Shared Spaces
Building Rules
Property Manager
Lease Deed
Schedule of Payments
Occupancy Rights
Maintenance Services
Insurance Requirements
Notice Period
Clauses
Demise
Term and Duration
Rent and Payment
Security Deposit
Common Areas Usage
Utilities and Outgoings
Maintenance and Repairs
Permitted Use
Insurance
Assignment and Subletting
Alterations and Improvements
Access Rights
Quiet Enjoyment
Property Management
Force Majeure
Indemnification
Default and Remedies
Termination
Dispute Resolution
Governing Law
Notices
Registration
Stamp Duty
Representations and Warranties
Environmental Compliance
Health and Safety
Building Rules
Shared Facilities
Other Tenants' Rights
Property Inspection
Security and Access Control
Signage Rights
Parking Rights
Service Charges
Renewal Options
Term and Duration
Rent and Payment
Security Deposit
Common Areas Usage
Utilities and Outgoings
Maintenance and Repairs
Permitted Use
Insurance
Assignment and Subletting
Alterations and Improvements
Access Rights
Quiet Enjoyment
Property Management
Force Majeure
Indemnification
Default and Remedies
Termination
Dispute Resolution
Governing Law
Notices
Registration
Stamp Duty
Representations and Warranties
Environmental Compliance
Health and Safety
Building Rules
Shared Facilities
Other Tenants' Rights
Property Inspection
Security and Access Control
Signage Rights
Parking Rights
Service Charges
Renewal Options
Relevant Industries
Real Estate
Commercial Property
Residential Property
Retail
Industrial
Office Space
Co-working Space
Warehousing
Manufacturing
Hospitality
Relevant Teams
Legal
Real Estate
Facilities Management
Operations
Finance
Risk & Compliance
Property Management
Business Development
Administration
Relevant Roles
Legal Counsel
Property Manager
Real Estate Manager
Facilities Manager
Operations Manager
Commercial Director
Business Development Manager
Chief Financial Officer
Asset Manager
Lease Administrator
Real Estate Agent
Company Secretary
Risk Manager
Compliance Officer
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