Results 1 to 3 of 3

Thread: Lease industrial

  1. #1
    New Member
    Join Date
    May 2015
    Location
    Cape Town
    Posts
    6
    Thanks
    1
    Thanked 0 Times in 0 Posts

    Lease industrial

    Good evening members of the forum

    I am hoping the members might be able to advise me on a matter of a lease of an industrial property. My father aged 72 years began renting a building for R18 000 per month two years ago to run his mechanical business. Yes I know at 72 years of age it is a huge burned to take upon yourself. Long story short, at the time an agent drew up a lease agreement of five (5) years lease. they also got him to sign his home as surety. My father has now two years later realized he is getting on in his years and can not cope with the rental for the next three years.

    I have contacted the landlord on behalf of my father and the landlord has point blank refused to allow my father out of the five year lease. The questions I have for the members are:

    1. To my understanding of the consumer protection act a lease is a form of contract that may not exceed a two year period and should apply to both residential and commercial property ?
    2. To my understanding of the consumer protection act a person can cancel a contract/lease with 20 working days written notice to the landlord?

    Kindly correct me if I am wrong but this is just my layman way of looking at the matter and hope that there will be more knowledgeable members here who would be able to shed some light on this matter.

    Many thanks in advance

    Regards

    Clayton

  2. #2
    Platinum Member sterne.law@gmail.com's Avatar
    Join Date
    Oct 2009
    Location
    Durban
    Posts
    1,328
    Thanks
    38
    Thanked 561 Times in 410 Posts
    Blog Entries
    7
    Did your father lease as an individual or as a entity (cc or PTY). this will be the first step to see if CPA is covered.

    As much as a 5 year lease may be in place, a person can break the lease and merely be liable for damages. both parties must try mitigate, in othyer words the landlord must try get a tenant, not merely rely on the remaining period. this breaking is of course relevant to the trading profits and losses.
    If business is losing the same or more as rent, then one is no worse off.
    If the business is paying the rent or substantial portion then it becomes more difficult, depending on how lettable the premises are.
    Anthony Sterne

    www.acumenholdings.co.za
    DISCLAIMER The above is merely a comment in discussion form and an open public arena. It does not constitute a legal opinion or professional advice in any manner or form.

  3. Thank given for this post:

    Clayton Miller (12-May-15), Vanash Naick (12-May-15)

  4. #3
    New Member
    Join Date
    May 2015
    Location
    Cape Town
    Posts
    6
    Thanks
    1
    Thanked 0 Times in 0 Posts
    Good morning Sterne and many thanks for your reply

    My father is renting the property as a sole proprietor. Would the CPA with regards to 20 working days notice apply to him?

    Many thanks in advance

    Clayton

Similar Threads

  1. Industrial power tool repairs
    By ians in forum General Chat Forum
    Replies: 11
    Last Post: 25-Aug-14, 11:08 AM
  2. industrial light switches
    By bergie in forum Electrical Contracting Industry Forum
    Replies: 8
    Last Post: 20-Jan-13, 04:34 PM
  3. Revenue Service on industrial action
    By I Robot in forum Tax Forum
    Replies: 2
    Last Post: 14-Sep-09, 12:57 PM
  4. Industrial monsters.
    By insulin in forum General Chat Forum
    Replies: 11
    Last Post: 03-Apr-09, 08:41 PM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •