Develop Lease Addendum

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What is a lease addendum?

Develop Lease Addendum

Your franchisee will most likely be leasing a business location. The lease is a contract between the franchisee and the holding company that owns the building. You are not directly involved in the contract, but you do want to add an addendum protecting your options. The Lease Addendum will be included in the Franchise Agreement and both the landlord and tenant will be required to acknowledge its provisions as part of the lease and sign it. The Lease Addendum ensures your rights and options in the use of the premises, should the need arise. Specifically:

  • The leased premises are only to be used for the operation of the franchise business during the entire term of the lease.
  • If anything happens that the franchisee will no longer be operating your franchise business, you have the right to take over the lease, if you so desire.
  • You have the right to enter the leased premises to inspect the business or to make any modifications required to protect your trademarks.
  • The landlord will give you written notice of any breach in contract with the tenant and you will have thirty days to remedy that default on behalf of the tenant before the landlord proceeds with eviction.

   

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Christina Chan