Page 6 - Victory Pier - Lease Guide
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What are Lease covenants?
The lease sets out the terms upon which the property will be occupied; what is exclusively yours, what is shared, what is expected of you and what you can expect from the landlord. As well as detailing the term of the lease, the responsibilities for different areas of maintenance, and charges to be paid, the lease will have covenants or conditions which are designed to ensure the building is maintained and protected and residents are safeguarded.
There are a number of general conditions at the start of the Tenant’s covenants section on most leases, which form part of a more comprehensive listing. These more common conditions list items such as:
• To pay service charge on the day and manner agreed.
• To keep the premises in good repair throughout the term.
• To permit the landlord entry to inspect or repair.
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