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