Lease memorandum when owners sell

In the process of moving out after 12 months, during which time the original owners have sold to someone else. No new lease agreement, or memorandum has been created/renewed with new owners, so is the same agreement (eg to repaint) still valid?

Also, where building works and painted have been conducted after we move in, are we required to repaint these items?
 
The terms of the lease do not change. Read your lease and see what your exact obligations are. As commercial/industrial leases vary it is not possible to answer your second question.
 
In the process of moving out after 12 months, during which time the original owners have sold to someone else. No new lease agreement, or memorandum has been created/renewed with new owners, so is the same agreement (eg to repaint) still valid?

Also, where building works and painted have been conducted after we move in, are we required to repaint these items?

Hi Pushka

You will need to discuss this with the Property Manager

Generally speaking, the terms and conditions of the lease run no matter whether the owner or the tenant have changed

However, when I moved out from my first shop, the PM negotiated with the Owner that it was OK for me to leave the mauve walls, the grey carpet and the overhead beams in place - he was of the opinion that these would make the shop more attractive for a new tenant, which they did. As I had also upgraded the electrics and installed ceiling fans it ws a bit of a trade off between us. Common sense prevailed.

With commercial premises, you are renting the shell of the building and are required to return it to the condition you received it in - usually completely bare, free from rubbish, all signage removed or painted over, window signage scraped off, etc

The next tenant expects to be able to just move in with minimal start up time and only spending what they had planned to spend.

So the short answer is: You agreed to these conditions at the commencement of the lease and must therefore do as required, unless you negotiate otherwise

Hope this helps
Kristine
 
Just an update. We ended up painting everything over Easter and leaving the property in a much better condition than when we arrived.

Glad to be out of the place - in the last four weeks of our tenancy the owner, with no notice to us, decommissioned the airconditioner for a week (during which each day was over 35!) knocked out a brick wall next to us, and installed a fence. All of which is against the Commercial Tenancy Act in SA and we should have been compensated for staff having to leave early because of the heat and dust conditions. Then they moved the old airconditioner right under the other tenant's window, so when we left, they were getting an EPA assessment.

Nevertheless, we behaved much better than the owner, leaving the place very pristine (even though it had a lot of rubbish when we arrived). Our bond will soon be returned to us (via Consumer Affairs).

All done and dusted.
 
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