Renting commercial space needs a commercial lease agreement to protect from legal issues. It is a bit different from the residential lease in the following aspects:
- Consumer protection laws are less
- Not strictly based on standards
- Hired for a longer period
- High level of negotiation is carried out
Before signing a commercial lease agreement, the following features must be completely understood
- The amount of rent and the duration of the lease. In fact, go for a short-term lease as it is safer and try to mention renewal option in the clause of the commercial lease agreement.
- Determine which type of location is best for you and how renovation can help it. Hire a space where a landlord is agreed to make essential modifications so your business can grow.
- The other aspects regarding space must be kept clear to avoid any hassles in the growing business
The following list includes many items that are often addressed in commercial leases. Pay attention to terms regarding key components of lease:
- the duration of the lease
- rent in terms of money, including periodical increases with estimations
- insurance, taxes, and maintenance expenses issues
- the security deposit with returning rules
- a complete description of the provided space
- Modification and fixture details
- Allocation of signs and posters
- The maintenance responsibilities
- Renewal methods and terms
- Termination clauses
You can draft your own commercial lease agreement by downloading free templates via reliable websites. The customizable options let you tailor –fit your need accordingly and a comprehensive document is ready for print. Get it signature by both the parties for a valid commercial lease agreement composition.
Commercial Lease Agreement
Microsoft Word document file | File size 43 KB | Download