Market is all about uncertainty. The highest truth about any commercial domain is that nobody enjoys its heyday for so long & even nobody suffers from downfall too that long. And every time the global scenario fluctuates, we adjust our day-to-day living to it. House rental is a macroeconomic business as the multi-nationals or retail-chains are now on an expansion-of-market spree. This trend has boosted the economy greatly by exploiting vacant property that has become rusty out of no use.
Although the commercial enterprises as well as the individual renters agree to pay some healthy cash as rent, the meltdown of market economy force them both to recast the payment tariff. They now try to come to a settlement with the landlord/lady to make them acquiesce to their capability. This situational call is referred as lease restructuring. Notwithstanding the previous statement, sometimes the restructuring can be called by the other way round i.e. the land-principle in cases of considerable disparity between the market value & existent rental charge. In both the situation, it is substantial difference of what is getting paid & what should be paid that triggers the action. It is also justified to ask for a re-shuffling in the payment criterion of the original lease agreement when merger or contraction of accommodating space occurs. Expenditure made by the lessor for the improvement of living of the tenant could also entail modification in lease agreement due to the amortization cost that the tenant has to bear.
As we started this discussion, how justified it is to hold lease restructuring in a cult status in relieving common men’s life from afflicting financial burden in hard times like the one during Global Recession in 2007. Well, this is not technically an out-of-the-deed settlement & at times it is. But preferentially it is a mutual common point that the tenant & its land-owner upstart to handle the situation humanely.
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