Commercial Guidebook | Real Estate Investor Magazine Commercial Handbook | Page 26

Commercial landlords can usually enforce the powerful remedies in their leases if the tenant should breach the lease, especially where certain statutory protections, such as those of the Consumer Protection Act, are inapplicable. The prospective business tenant must therefore read and understand these clauses carefully before signing the lease. 3.The Right of Renewal: A right of renewal at the end of the term of the lease is an obvious benefit to tenants, since it allows them to remain on the property without incurring the costs of moving. However, although many leases offer such a right, on careful analysis the lease term may merely say the parties will negotiate the future rental “in good faith”. If they can’t agree on the future rental, the lease ends. The courts have held that a term requiring “good faith” negotiation on future rental is unenforceable. Moreover, the landlord can always demand terms the tenant can’t accept, rendering such clauses virtually useless. Take the recent judgment in the case of Everfresh Market Virginia (Pty) Ltd v ShopriteCheckers (Pty) Ltd 2012 (1) SA 256 (CC). There, the tenant was given the option to renew the lease on the same terms and conditions, subject to agreement being reached on the rental. However, the landlord, who did not want the lease renewed, refused to negotiate on the rental for the renewal period. Seeing that the landlord was opposed to the renewal, the tenant remained in occupation, alleging that it had unilaterally, but validly renewed the lease. The tenant alternatively alleged that the landlord had no right to evict it, because the renewal clause required it to make efforts in good faith to reach an agreement on rental. Subsequently, the landlord obtained an eviction order in the High Court, which held that an option to renew a lease on terms to be agreed is unenforceable. The Supreme Court of Appeal agreed and dismissed the tenant’s appeal, as did the Constitutional Court. A more appropriate option is to give the tenant the right of renewal, with the future rental to be based on objective standards, and not solely under the landlord’s control. Typical terms which have been held to be acceptable, include those which provide for an increase based on a set percentage of the existing 24 Commercial Handbook 2016 rental, or a deadlock-breaking mechanism, providing for the calculation of a fair market value by an independent person if the parties cannot agree. Since the costs of hiring an independent person to determine fair market value may sometimes be excessive, I’d recommend a fixed escalation amount. As is always the case, the most effective way to obtain legal power is not by litigation, but by preparing legal documents that properly protect your rights. In very few areas will this be more important than in lease negotiations. RESOURCES Marlon Shevelew and Associates www.reimag.co.za