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AIR’s Inducement Recapture Provision: When Free Rent Is No Longer Free |
Tenants love free rent. But they would hate to pay it back. |
Under the AIR lease, if Lessee commits a Breach, it is required to immediately pay Lessor the value of any free rent or other inducement (TI allowance, etc.) it received (Paragraph 13.3). This type of provision is included in many custom leases as well. |
This repayment obligation is triggered only after Lessee receives written notice from Lessor of its failure to perform a Lease obligation and fails to cure within the applicable cure period (assuming the failure can be cured). |
Importantly, Lessee may be required to pay the entire value of the free rent or other inducement even if Lessee commits the Breach at the very end of the Lease term. For example, assume a 60-month lease at $10,000 Base Rent per month, in which the parties agree that Base Rent is abated in months 2-4. If Lessee commits ... |
Lessee may feel that this provision is unfair in this type of situation. When representing tenants, I often modify the Inducement Recapture provision so that the repayment obligation is reduced/prorated as the Lease term progresses. Therefore, if the Breach occurs when there are only 3 months remaining on the 60-month ... |
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By | 2018-08-16T14:50:33+00:00 April 16th, 2015|Landlord-Tenant, Leasing|Comments Off on AIR’s Inducement Recapture Provision: When Free Rent Is No Longer Free |
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Casa CLEMEN Las Rotas, sleeps 4 – Dénia, Las Rotas (near camping Los Pinos) |
| | 0 Guests | 3 Bedrooms| 2 Baths |
Check Availability |
Descripción de la propiedad |
Ideal for a dream holiday, this charming semi-detached corner house is particularly well situated. |
Located at a few steps from the sea, along the coves of Las Rotas, superb marine reserve of the Cape of San Antoni, the property offers a scenery of great beauty. The turquoise blue, transparent sea and the rocky outcrops provide an oasis of peace and contemplation. |
The 83m² house is located on the ground floor of a small real-estate complex. There are three bedrooms. Two of them with double bed and a wardrobe; the third one is a single room with WC. There is a fully-equipped bathroom, a beautiful independent kitchen and a living/dining room overlooking a 15m² terrace and small pr... |
Casa CLEMEN is part of a small residents’ community with well-maintained properties, very close to the magnificent promenade of “Las Rotas”, in a very quiet and traffic-free street. The domain has no parking area of its own, but cars may be parked a few meters away, in the “Calle Camí de la Racona”, which extends as fa... |
THE ENVIRONMENT |
The beaches of “Las Rotas” are most beautiful and well-tended. They are preserved from the crowd and very well maintained. Not only are they ideal for walking and snorkelling, but also offer many activities for young and old alike. Restaurants, supermarkets, bars, bakery and newsstands are only 1km away. |
Nearby, it is possible to rent bicycles, jet skis, kayaks, boats, diving equipment and other sporting accessories. The Equestrian centre, the golf clubs, the go-kart circuits, the surf school, the drive-in cinema are only a few kilometres away, not to mention the realm of activities organised in Dénia. |
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Property Price |
Cleaning Fee: € 80 |
Property Address |
Address: calle Trito 4 Denia |
City: |
County: Marina Alta |
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