A franchise agreement should contain the following as well:
- The fees you pay.
- The length of the franchise.
- The level of control the franchisor can exert over the business.
- The licence to use the trademark or name.
Should you as the tenant pay the legal costs? What is the difference between a Retail Lease and a Commercial Lease? There are a number advantages and disadvantages for the tenant and the landlord, depending on the type of lease.
It is crucial that you know and understand the terms and conditions to a lease prior to signing it. You should consider the following:
- Periods of the lease.
- The options to renew.
- The right to assign.
- Increases in rental.
- The outgoings.
- The transfer of licences and permits.
- Whether the lease complies with the law.