Open a Rental and Leasing Company in Norway
Open a Rental and Leasing Company in NorwayUpdated on Monday 25th June 2018
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Types of activities for rental and leasing companies in Norway
The registration of a rental and leasing company in Norway could be an attractive business idea, as the company can increase its value by providing a wide range of services, addressed to various types of clients, such as natural persons and legal entities, completed through a specific type of contract.
For example, a rental company can offer rental solutions for commercial and residential purposes, and it may also provide leasing services for various types of goods – the most common being for vehicles. Our team of lawyers in Norway can advise on the main procedures related to the incorporation of a business and can assist in the business permits necessary for this type of activity.
Types of leases in Norway
Leases in Norway can be completed following specific regulations, given by different types of legal acts. Such regulations prescribe the period for which the lease contract can be signed (as a general rule, five or ten years), but it is important to know that such contracts can be signed for an indefinite period. Under the Norwegian legislation, companies operating as rental and leasing businesses can enter the following type of leasing activities:
|Ground Leases||a category which is regulated under the Act Relating to Leasehold Sites|
|Agriculture Property Leaseholds||a type of agreement that can be concluded under the Act of Leasehold Agriculture Property|
|Domestic Leases||addressing to natural persons, following the regulations prescribed by the Tenancy Act|
|Business Leases||types of agreements which are also regulated by the Tenancy Act, section Commercial Leases|
Main regulations prescribed by the Tenancy Act in Norway
Tenancy Act prescribes that agreements concluded by companies when renting the property can be signed verbally or in writing. In the situation in which the contract is established on a verbal basis, if one of the parties requests a document in this sense, the agreement can be written down. Our team of Norwegian lawyers can offer more details related to this regulation.
If any type of dispute arises between the parties that have concluded a contract, they can be dealt with at the Conciliation Court or the Rent Dispute Tribunal, in the case of agreements established between a tenant and a landlord. In this particular situation, it is important to know that the landlord can request a deposit with a value representing maximum 6 months of rent. Investors can address to our law firm in Norway for more details related to the regulations addressed to rental and leasing businesses.