Some of the key elements that are addressed in this commercial lease agreement include; the name and the details of the parties that are subject to the lease agreement, the details (title number and other pertinent information) of the premise subject to the lease agreement, the date of entering the lease agreement, the rent and deposit to be paid upon the execution of the lease, the payment details of the sum of money payable in the lease, the law governing the lease the provisos of the lease agreement, the lessor’s covenant, the lessee’s covenant, the dispute resolution process of settling any dispute which arises from the lease, and certificates of attestation of execution of the lease agreement.
This is a lease agreement under the Kenyan land law regime and it provides a good guide on what a lease agreement for commercial purposes should look like. Additionally, it has explanatory notes on what to do when you are acting for the Lessee subject to the agreement. The Lease is drafted in a manner that it protects the interests of the Lessee.
