Pursuant to Article 616 of the RA Civil Code, The lessee shall be obliged to make a payment for the use of the property (lease payment) in time.
The procedure, conditions and terms for making lease payment shall be determined by the lease contract. Where these are not determined by the contract, the usual procedure, conditions and terms existing at the time of leasing an identical property under comparable circumstances shall apply.
2. The lease payment shall be defined for the whole leased property or for the each component thereof:
1) by a certain fixed amount paid regularly or simultaneously;
2) by a share defined for fruits, products or income received as a result of using the leased property;
3) by rendering certain services by the lessee;
4) by transferring the property, provided for by the contract, by the lessee to the ownership or lease of the lessor;
(5) by encumbering the lessee with the expenses for improving the leased property provided for by the contract. The parties may define by the lease contract a combination of mentioned forms of lease payment or other types thereof.
The amount of lease payment may be changed by the consent of parties under the terms provided for by the contract, unless otherwise provided for by the contract. Minimum terms for the revision of the amount of lease payment for individual types of lease as well as for lease of individual types of property, may be established by law.
Unless otherwise provided for by law the lessee shall have the right to require to reduce the amount of the lease payment, where by virtue of circumstances, for which he or she does not bear responsibility, the conditions for the use provided for by the lease contract or the condition of property has substantially deteriorated.
In case of essential violation by the lessee of the terms for making a lease payment, the lessor shall have the right to require therefrom an early lease payment, unless otherwise provided for by the lease contract.
