BUSINESS LEASING AGREEMENTS


BUSINESS LEASING AGREEMENTS






Business leasing agreements in Greece are regulated by law 4242/2014 as well as civil law.

Previously in Greece the duration of the business agreement had to be 12 years and even in the event that parties agreed in writing for a smaller duration the tenant was protected for the 12 year period.

 Based on the new regulations the parties to the agreement (land lord and tenant) are free to decide on the duration of the lease agreement with a minimum duration of 3 years. In the event where the parties have not set a duration time then the minimum of 3 years is applied. In the event where the parties have agreed on a longer period (more than 3 years) then both parties are bound by the longer period.

The lease agreements may be terminated by mutual agreement by the parties provided the termination is in writing. Alternatively each party can terminate the agreement either after the minimum 3 years are up or after the agreed duration is up by serving the other party with termination notice.

The lease agreements signed before 1.3.2014 still give the right to the tenant to enjoy the 12 year protection however after the maximum duration is up he is not entitled to the 24 month rent compensation to be paid by the land lord ( as was the case previously) nor does he  have the right to a further 4 year protection like he did before the amendments.  

 

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