CASE LAW

Case Law

Case Law

Introduction

In this essay two properties Milbanke Court Milbanke Way, Bracknell and Grantley House, Park Lane Cranford, Middlesex which are possessed by the same landlord is being observed. Both of the properties are leased differently. The first property “Milbanke Court Milbanke Way, Bracknell” is comes in the category of gross lease. While, the second property comes under the category of Net Lease, the net lease is the most pervasive of the different lease contract sorts. It is required to inspect the properties, as the tenants are still in occupation, but the occupiers have not entered into further agreements with the landlord. This study will discuss the major differences between the two leases. Moreover, this research will also analyze the nature of the present occupations, and recommendations for the client.

Research Questions

1. Explain and discuss the main differences between the 2 leases.

2. Explain and discuss the nature of the current occupations and what advice you should recommend to your client assuming the client requires possession of both premises.

Discussion of the Questions

Both the properties are owned by the same person, and both the properties are leased. Lease for any rental property means finite time duration, such as a year or 6 months, for which period an occupant will be in agreement to rent for that property. In this time interval, also called as the period or length of lease, the landlord and tenant are bound to maintain the conditions of the on paper agreement (Crosby, Gibson & Murdoch, 2003, pp. 1487-1516). If there is a lease exists, it means that none of the party might modify any terms and conditions of the written agreement till the expiration of lease, except both parties have the same opinion to change.

Difference between the Leases

The first property “Milbanke Court Milbanke Way, Bracknell” is comes in the category of gross lease. Under the word of a gross lease, the occupant pays a gross amount to landlord for rent (along with the applicable sales tax). Property expenses, such as insurance, property tax, and maintenance are the landowner's avocation; the inhabitant is answerable for utilities. Often the lease contract will incorporate procurements that require the inhabitant to take care of property expenses that head over a specified level.

Variations of the fundamental lease arrangement incorporate the step lease and the flat lease. The flat lease is considered as the most essential sort of understanding and ordinarily the most prevalent with little organizations. It calls for the resident to pay a flat cost ser for a particular duration of time. The step rent or lease, calls for a continuous acceleration of the base lease instalment over the time as recognizing the possible ascent in landowner costs in such territories as expenses, insurance, property tax, and maintenance are the landowner's avocation (Goodacre, 2003, pp. 99-125).

The second on property comes under the category of Net Lease. The net lease is the most pervasive of the different lease contract ...