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Lease Agreements

Lease Agreements

Introduction
South African law recognises three forms of contracts relating to letting and hiring, namely: letting and hiring of a thing (movable or immovable); letting and hiring of services; letting and hiring of work to be done. The letting and hiring of a thing includes the leasing of a property. Currently, it would be best to invest in property and to benefit most from your investment is to lease your property. However, to ensure that you and the person leasing the property are protected, it is advisable that a residential lease agreement be drafted. The parties are referred to as “Lessor “and “Lessee “respectively. The Lessor is the person who lets the property and the Lessee is the person who rents the property.

Definition and Essentials
Contracts of lease are reciprocal agreements between Lessors and Lessees, in terms of which the Lessors bind themselves and give the Lessees the temporary use and enjoyment of the property, wholly or in part. The Lessees bind themselves in turn to pay a sum of money as compensation for that use and enjoyment.1

The essentials of a lease contract are:

1. The undertaking by the Lessor to give the Lessee the use and enjoyment of the property;2

2. An agreement between the Lessor and the Lessee that the Lessee’s use and enjoyment is temporary; and3

3. An undertaking by the Lessee to pay a sum of money in return for the use and enjoyment which he or she will receive, that is, an undertaking by the Lessee to pay rent.4

A lease contract creates obligations for each party. The Lessor’s obligations include the delivery of the property to the Lessee, a duty to maintain the property in proper condition and to ensure that the Lessee has undisturbed use and enjoyment of the property.5 The Lessee’s obligations include the duty to pay the rent, proper use and care of the property, and a further duty to restore the property on termination of the lease.6

Conclusion
A lease agreement plays an integral l part in protecting yourself and your property. The SchoemanLaw Inc SME Self Service Desk can assist you herein. The SME Self Service Desk provides a professionally drafted residential lease agreement at the fraction of the price. It is drafted by attorneys. Visit the SchoemanLaw website for more information at:
https://www.schoemanlaw.co.za/online-legal-services/

© Beata Warnich - Schoemanlaw Inc. - 2018

1 G Bradfield and K Lehmann, Principles of the Law of Sale & Lease, Second Edition; page 71.
2 G Bradfield and K Lehmann, Principles of the Law of Sale & Lease, Second Edition; page 71.
3 G Bradfield and K Lehmann, Principles of the Law of Sale & Lease, Second Edition; page 71.
4 G Bradfield and K Lehmann, Principles of the Law of Sale & Lease, Second Edition; page 71.
5 G Bradfield and K Lehmann, Principles of the Law of Sale & Lease, Second Edition; page 75-87.
6 G Bradfield and K Lehmann, Principles of the Law of Sale & Lease, Second Edition; page 87-99.

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