Checklist: What to look out for when entering into a tenancy agreement if you are planning to rent premises?

Step 1. Start by checking your counterparty. Ask for passport documents if you are planning to rent premises from an individual or registration documents if your landlord is a private entrepreneur or a legal entity.

Step 2. Check the real estate in the public registers regarding the following criteria: whether your landlord is the real owner of the property / has the right to lease the property; whether there are no arrests, mortgages or other encumbrances on the property.

Step 3. Read carefully the text of the proposed contract before signing it. Pay attention to the following provisions: subject of the agreement, term of the agreement, procedure of payment of rent, procedure of refund of utility payments, procedure of termination of the agreement by both parties, responsibility. If something confuses you – enter into negotiations and discuss the terms with the counterparty.

Step 4. If it is a commercial law contract, check compliance with the essential conditions of the contract stipulated by Art. 284 of the Commercial Code of Ukraine, namely: object of lease (composition and value of the property, taking into account its indexation); term for which the lease contract is concluded; rent, taking into account its indexation; procedure of using depreciation charges; restoration of leased property and terms of its return or buyout.

Step 5. Keep the original contract for the duration of the lease.

Patriot.Legal’s team of lawyers and attorneys is always on hand to protect your interests. Specialists of the contract department will help you develop an agreement and coordinate it with your counterparty to make the terms and conditions most favorable and safe for you.

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