This regulation, which consists of ten (10) chapters, forty-four (44) articles, six (06) transitional provisions, two (02) repeal provisions and one (01) final provision, sets out the conditions that will govern the national real estate sector, in particular the rental of real estate for commercial purposes or services. The relationship between tenants and owners who are engaged in renting this type of property (for example, in shopping centers) must be regulated, among other things, by the rules that we will develop in accordance with this law in this report. (S.C.C. of 6 August 2014, Case: Inversiones 4 Albert S Sons, C.A., v Custodias y Almacenajes, C.A. (CUSALCA) and others). The rental of business premises can be extended or extended, two figures that are different. 2.- The law was amended by Decree 2/1985 (Boyer Decree), which stipulates that contracts concluded since its entry into force (9 May 1985) may no longer be subject to forced renewal, but that their duration is determined by the parties. The expert notes that there are two types of extensions: contractual and legal. The renewal of the contract is the one specified in the contract and can be set or extended automatically. The generally chosen duration of a contract is six months. If it is “renewable for another six months”, it means that the deadline will only be repeated once. However, if the contract says “renewable for six months”, it means that the postponement of the contract will be automatic unless the parties notify otherwise.

`However, this special privilege of being able to renew the contract against the will of the lessor after having fulfilled the legal requirements does not necessarily imply the extension of the conditions initially agreed, since the essence of that power does not lead to such a conclusion, but only to the possibility of continuing the use of the land. even if it is necessary to modify the previous contract or at least some of the clauses previously accepted by the parties, such as those relating to the price or conditions of use of the rented property. In short, it is the power to continue to use the facility on the same premises, albeit possibly under different conventional regulations. The tenant`s right of extension is limited to this. “The owner needs to know how to stop extensions when they are automatic. This can be done by means of an authentic judicial service before a district court. This court moves into the premises and informs that the tenant does not wish to extend further and at the end of the contract, the legal extension begins to run”, Millán details. That is, we have said that the rental of commercial premises must be prepared in writing and certified before a notary, for a minimum period of one (1) year (unless the lease is required for a specific season and can be held for a shorter period) and must comply with the physical conditions of the property and building to be rented, in which it is located; the value of the property; rental fees; the calculation method used; and the obligations of the parties (owner and tenant). With regard to the payment of the rental price, it is expected that it will be made for the amount duly established in the contract and the opportunity by depositing it in a bank account in the name of the lessor (which cannot be closed during the term of the contract) and that a legal invoice indicating the amount must be issued to the tenant.

Payment concept and indication of the corresponding period. 1) Fixed Lease Canon (CAF), in which the value of the property at the time of negotiation is taken into account and determined by the Sundde through an evaluation of the replacement cost (by a methodology established for this purpose); and the annual profitability percentage of 12% for the first year and 20% in the case of shopping centers and / or new premises. It used to be more natural to conclude long contracts, but now companies are dollarizing the barrel and this is not ideal, advises the specialist and specifies that the ideal is to make shorter contracts and with a regular extension of the contract of minimum conditions in order to be able to adjust the rental gun in a new contract. The fees and legal fees correspond to the tenant and the renewal an adjustment of the canon and the deposit is made, so the tenant must deposit the difference in the payment. On the other hand, we have that in this regulation the preference of offer is consecrated in favor of the tenant, according to which, if the owner decides to sell the commercial premises, he must offer them (mainly) to his tenant for sale to third parties, as long as he has more than two (2) years as a tenant of the premises; is solvent in the payment of royalties, condominiums and other contractual obligations. The non-compliance with the offer preference by the owner or in the event that he has sold the property on more favorable terms than those initially presented to the tenant gives him the right to revoke the legal lease, so that the property is offered for sale under the same conditions offered to the third party. “. Article 39.- The legal extension applies automatically and after expiry, the lessor may require the tenant to fulfill his obligation to deliver the object of the rental. In this case, at the request of the lessor, the judge will order the seizure of the rented property and will order the deposit of it in the person of the owner of the property, the case being concerned, in order to respond to the tenant if there is room for it… ».