Commercial Leases · glossary
A stretch at the start of a lease when the main rent is not charged. Linnet pays no Annual Rent for the first three months, while it fits out the floor (clause 3.2). The service charge and the insurance rent are payable from the first day. Lease 3.2 · Chapter 3 · see Rent commencement date
Explained in Chapter 3, Rent, Rent-Free and VAT, of Commercial Leases.
Linnet takes a bare floor and spends its first three months fitting it out as a studio. It pays no rent for those months, because it cannot yet work there. This is a rent-free period: a stretch at the start of a lease when the main rent is not charged.Read Chapter 3, Rent, Rent-Free and VAT →
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