Programme Objective
This course is intended to help accountants understand the dynamics and potential conflicts involved in lease agreements, to better appreciate what they account for in leasing activities.
Potential legal problems will also be discussed including how to mitigate or avoid them. Actual legal disputes will be studied and the lessons to be learnt will be emphasized. This will help accountants become more aware of the dynamics involved in lease arrangements when they account for leasing activities.
Programme Outline
- Formation of contracts and formalities. Legal requirement to register for leases; Duties of landlords and tenants - quiet enjoyment, non-derogation of grants
- Common clauses and their interpretation - diplomatic clause, payment of rent without deduction, implied warranty of fitness for purpose, repair clauses, viewing rights of landlord
- Dealing with tenants who have not paid rent - right of re-entry, order for possession, various heads of claim, double rent.
- Option to renew - interest of landlord and tenant, valid and invalid options
- Alternative dispute resolution for disputes - negotiation, mediation, arbitration
- Protection against default of rent - lease formation (guarantees, credit checks, etc). Arrears stage (bounced cheque response, promises to settle)
- Tax aspects of leases - property tax, rental income and deductions, sale of leases (capital or revenue in nature)
- Tenancy Agreements – examples of the good, the bad and the ugly
- Practise Exercise - Drafting simple tenancy clauses
Training Methodology
Lecture style, with a case study for discussion
Closing Date for Registration
1 week before programme or until full enrolment.
Intended For
A foundation to Intermediate level programme intended for preparers and auditors of financial statements, especially those who need to account for leasing activities. Professionals who would like to understand the dynamics and potential conflicts involved in lease agreements, will benefit from this course.
Schedule & Fees
Testimonial
Funding
No funding Available!
Programme Facilitator(s)
Programme Objective
This course is intended to help accountants understand the dynamics and potential conflicts involved in lease agreements, to better appreciate what they account for in leasing activities.
Potential legal problems will also be discussed including how to mitigate or avoid them. Actual legal disputes will be studied and the lessons to be learnt will be emphasized. This will help accountants become more aware of the dynamics involved in lease arrangements when they account for leasing activities.
Programme Outline
- Formation of contracts and formalities. Legal requirement to register for leases; Duties of landlords and tenants - quiet enjoyment, non-derogation of grants
- Common clauses and their interpretation - diplomatic clause, payment of rent without deduction, implied warranty of fitness for purpose, repair clauses, viewing rights of landlord
- Dealing with tenants who have not paid rent - right of re-entry, order for possession, various heads of claim, double rent.
- Option to renew - interest of landlord and tenant, valid and invalid options
- Alternative dispute resolution for disputes - negotiation, mediation, arbitration
- Protection against default of rent - lease formation (guarantees, credit checks, etc). Arrears stage (bounced cheque response, promises to settle)
- Tax aspects of leases - property tax, rental income and deductions, sale of leases (capital or revenue in nature)
- Tenancy Agreements – examples of the good, the bad and the ugly
- Practise Exercise - Drafting simple tenancy clauses
Training Methodology
Lecture style, with a case study for discussion
Closing Date for Registration
1 week before programme or until full enrolment.
Intended For
A foundation to Intermediate level programme intended for preparers and auditors of financial statements, especially those who need to account for leasing activities. Professionals who would like to understand the dynamics and potential conflicts involved in lease agreements, will benefit from this course.
Programme Facilitator(s)
