“Tenants, do you know that understanding the clauses stated in your lease document is critical to your thriving businesses at the parks? Your lease is an agreement that guides the relationship between you – the tenants; and e TecK- the landlord, therefore operating within these terms and conditions means less stress for both parties. Many times tenants may not be even aware that they are in breach because they have not reviewed their lease documents in detail; intimate knowledge of your lease document is key. Unfortunately, a breach can lead to the forfeiture of your lease but this can be avoided if the correct procedure is followed.”
“Know Your Clause” is a new segment to promote greater awareness and understanding of critical clauses found in tenants’ lease documents. Over the next few months, we will be highlighting clauses such as: – User, Additions, Alterations and Reconstruction, Assignment, Use of the Common Area and many more. We have already focused on the following:
This month we focus on the Parking Restriction Clause.
Q.1. What is the Parking Restriction Clause?
A.1.The Parking Restriction Clause is a clause which is contained in the new Lease format under clause 3.24.9 and it regulates the parking of vehicles and/or containers on the Business Parks.
Q.2. Why have a Parking Restriction Clause?
A.2. Parking must be regulated on the Business Parks to allow for free and easy access by ALL Tenants and the Landlord onto the Park. It prevents obstructions and allows each tenant to have equal access to the park roads and common areas. It provides that each Tenant is to have designated parking areas for its suppliers, invitees, licencees and visitors. This Clause provides for a more efficient management of the space available on the parks.
Q.3.Is there sufficient parking for Tenants at the Existing e TecK Parks ?
A.2.There is not adequate parking at the existing parks because the design of these parks in the 1960s did not take into account proper land use planning and creation of allowances for future business expansion and the increase in vehicular transportation. In addition, the parks are fully populated and there are no vacant lots which can be used for parking. In some instances where there are small strips of land, e TecK has leased these lands under a licence arrangement to tenants for parking .
Q.4. What steps do I take if this Clause is breached?
A.4. Where there is a breach, notice will be sent to the Tenant to have this remedied within a specified time to minimize the effect it may have other neighboring Tenants. If it is not remedied it would be within the Landlord’s right to forfeit the lease. This is an extreme measure and will be taken as a last resort where the Tenant refuses to co-operate with the Landlord.