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Shaie Zindel
Shaie Zindel, Attorney
Category: South Africa Law
Satisfied Customers: 1248
Experience:  All areas of commercial and contract Law - specialist in property advice.
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On a commercial property lease, if it is not stated in the

Customer Question

On a commercial property lease, if it is not stated in the lease, does the landlord still have to give interest on the deposit to the tenant at the end of the lease.
Can a commercial lease state that the landlord gets the interest.
Submitted: 4 years ago.
Category: South Africa Law
Expert:  Shaie Zindel replied 4 years ago.
Hi Karen - I'm not sure what happened to Mike Otis but Id like to answer your question if possible? The issue of interest on deposits in respect of commercial leases is not legislated by any Act of Parliament. In the circumstances the rule is that you follow the agreement. If the agreement says the Landlord or the SPCA gets the interest and all parties agreed thereto then that is the case. In your case because the agreement is silent on the issue of interest it is my respectful view that the tenant gets the interest because remember the deposit does not belong to the Landlord unless and until there has been a breach by the Tenant and the deposit gets forfeited. Until then the deposit actually belongs to the Tenant and so it should follow that any interest earned or saved should fall for the account of the Tenant. I hope this answers your question? Please let me know if I can assist further and please remember to rate my service so far. Regards
Customer: replied 4 years ago.

Thanks. Thats clear.

Expert:  Shaie Zindel replied 4 years ago.
Great - if you haven't already, please remember to rate my service. Regards