Welcome to Penrose Real Estate Contracts
Penrose is specialised in Dutch tenancy law, property purchase and sale transactions, due diligence and finance documents. Our clients include experienced real estate investors, project developers and business tenants. Some of the property law issues that we encounter in the Netherlands on a daily basis are outlined below.
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Rental agreements for housing, retail or business premises
A rental agreement is a contract whereby one party makes a property available to another party for e.g. housing, business or retail in exchange for the payment of rent. There are three types of rental agreements for real estate: the tenancy agreement (for housing), the lease for retail premises, and the lease for commercial premises or office space. There are, of course, many factors to consider when entering into a rental agreement: whether to conclude a fixed-term or an agreement for an indefinite period of time, which facilities are included in the rental price, the terms of termination, what happens in the event of bankruptcy or eviction, and whether subletting is permitted. The range of options in these matters will vary depending on the type of rental agreement (i.e. housing, retail or commercial).
Purchase agreement for office space or shop premises
The purchase or sale of commercial premises, retail premises or housing requires a written purchase agreement. Experience has shown that the purchase or sale of commercial real estate often follows a fixed pattern. After a property has been selected, the bidding often starts with an initial indicative offer. This offer is often made under the proviso of e.g. a building survey or a financing arrangement clause. Technical, financial and legal matters as well as due diligence follow after an agreement in principle on the price has been reached. The purchase agreement is then drawn up and the financing is arranged. The financing is often accompanied by securities such as a right of mortgage. However, other securities, e.g. rights of pledge (securities in movables or pecuniary rights), are also regularly extended by the company itself. The transfer of, payment for and establishment of security rights is the final stage in the property transaction, which takes place before a civil notary.
Dutch Real Estate specialists
At Penrose, lawyers specialised in drawing up real estate agreements such as rental agreements and agreements for the sale of business premises are happy to work with you and answer any questions you may have. Our lawyers’ contact details are available here.