Pursuant to Article 668 of the RA Civil Code, the contract on lease of a building or premise must provide for an amount of lease payment.
In case of non-availability of a condition on the amount of lease payment, the contract on lease of a building or premise shall be considered as not concluded.
The lease payment for the use of a building or premise, provided for by the contract on lease of a building or premise, shall include the payment for the use of the land whereon it is located or the relevant part of land transferred together with it, unless otherwise provided for by law or the contract.
In case where the lease payment of the building or premise is provided for in the contract under the units of the area of building (premise) or other indicators on the amount thereof, the lease payment shall be determined based on the actual sizes of the building or premise transferred to the lessee.
