There are several types of intermediate rent provisions that are common in the industry. As the court`s opinions point out, an important element of a possible provision for interim rents is that it relates to the actual value of the tenant`s use during the specified period. This relationship is usually achieved by the fact that the intermediate daily rent is equal to 1/30 of the base rent. For most long-term orders, there will be intermediate charges with progress payments… although the actual amounts may vary. Case Law Analysis In addition to commercial assistance, interim rent reserves have had a significant beneficial effect in the notices provided by the federal government and the federal states. Many courts have emphasized the legitimate objectives underlying interim rent provisions. In general, despite the policyholder`s occasional requests for fraudulent inducement and inducement, the courts had little difficulty in implementing provisions for interim rents. The commercial and long-term nature of most leasing transactions predisposes most courts to the application of the explicitly mentioned agreements between the lessor and the taker. The commercial nature of leases, as well as the general principles of the code of commerce and contractual principles, provides a solid basis for the application of the provisions for intermediate rents considered obvious. In All-Luminum Products, Inc. v. Winthrop Resources Corporation, 28 Fed.
App 611, 202 US App. Lexis 2657 (8th Cir. 2002), the Tribunal upheld the registration of a summary judgment despite the tenant`s assertion that the intermediate rent had been miscalculated and that the provision was ambiguous. The Court found that the tenant`s argument was based on undue probation evidence. Apart from this, the Tribunal found that the intermediate rent was duly calculated on the basis of the basic monthly rent package. However, the Court indicated that the taker`s application would have been more credible if the lease had in fact been construed as a disguised loan. Intermediate rental applications are usually submitted as part of a rent renewal process. If the parties agree that the terms of a new rent renewal and rental procedure are not adopted, only intermediate rent applications can be made if a party deems it appropriate. Section 24 (A) (3) Landlord – Tenant Act 1954 stipulates that an application for interim rent must be made no later than 6 months after the end of the “relevant lease.” The widely held view is that this means that an application stagnates within 6 months of the lease ending under the provisions of the landlord and tenants act of 1954. The intermediate rental concept allows a landlord to set the start of the lease on a certain date, such as the first or 15th of the month.
In addition, provisions for intermediate rents can, in addition to the expected rents, provide the landlord with significant rental income. In short, this reasonable period of time for the intermediate rent is the first that could have been set in these notices.