Question about language in the form Lease Agreement

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  • This is from the Lease Agreement. I believe that this Agreement is intended to be “pro tenant” but I am unsure as to what the following language taken from the paragraph below means: ” except that rent owed hereunder shall increase by 65% of any increase over current amount being charged in sublet base discounted rent.”

    Additional terms and conditions: 1. As an accommodation to Lessor, Lessee shall retain $100 per month from rent paid hereunder to be applied to property taxes, municipal assessments, etc. which are the obligation of Lessor. Such withheld amount shall be considered paid to Lessor monthly; 2. Repairs required each month on premises up to $100 are obligation of and shall be paid by Lessee; items costing more than $100 remain the obligation of Lessor; 3. Lost discounts, vacancies, pet charges, etc. from subletting shall not effect this agreement, except that rent owed hereunder shall increase by 65% of any increase over current amount being charged in sublet base discounted rent.

    Does this mean that landlord has a stake in the tenant’s sublet rental price? if so, is this a hybrid Master Lease allowing both landlord and tenant to have a stake? But this lease does not allow the tenant to stop paying rent during period that house goes vacant? So, my second question is, is this a pro tenant lease, pro landlord nor just a fair to everyone lease agreement?

    Thanks in advance for your comments.

    I say pro landlord. Personally I don’t like it and would not get involved as tenant or landlord. Just to complicated

    Don, thanks for the response. I assume that you mean that you, as landlord, would not get involved in the tenant’s stake in the sublet and the subsequent discounting? But you are not opposed to Master Leases in general, correct?
    Thanks

    Ken,
    I love master leases. I use David Tilney’s lease simple fair for all parties and covers everything.

    Thanks Don:
    David Tilney;s April seminar is on my calendar.

    I think it’s saying you owe the landlord 65% of any rent increase you get from the tenant, but don’t quote me. That too complicated. We modified David’s lease to say x% of rents collected; discounts, late fees or pet deposits etc. remain with managing tenant. Of course it is all negotiable.
    Chris
    http://www.realestateproblemsolver.com

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