A Commercial Lease Agreement is a generic template and it is a short version suitable for leasing a commercial premises. This concise version of the contract is ideal when both parties do not require inclusion of extensive terms and conditions. Please consult state laws prior to proceeding. In addition, please review these essentials
- Please do not use this form for leasing residential premises. However, this form is suitable for leasing all types of retail, industrial, or commercial premises.
- Please include information about signing parties, property description, lease term, and monetary consideration while preparing this contract.
- Please select the most appropriate form of a lease from the options like Fixed End Date, Fixed Number of Weeks/Months/Years, Periodic, or Automatic Renewal lease.
- The landlord may ask for a lease guarantee or a cosigner to secure the rent payment. In addition, the landlord may also require a duly filled rental application from the tenant prior to entering into a lease contract.
- The landlord also retains the right to enter into a lease agreement with the due consideration of the proposed use of the premises to avoid conflicts with existing businesses on the premises.
Please remember to review the terms and conditions of the lease carefully and include any additional provisions to meet custom requirements. Inclusion of such provisions is necessary in certain cases.
Steps to Create Commercial Lease Agreement
A commercial lease agreement is also known as industrial or business lease. Please follow these steps to create accurate and legally binding lease contract. In addition, please remember that all parties involved in the lease transaction must sign this form. Inputs necessary in the form are
- Date of making the lease
- Name of the landlord
- Name of the tenant
- Description and address of the premises
- Dates of lease commencement and termination
- Yearly rent amount, monthly rent installment, and frequency or time period for the payment
- Proposed purpose of using the premises
- List of utilities provided by the landlord
- List of utilities with the tenant’s payment responsibility
- Amounts of public liability insurance along with fire and hazard insurance
- Date and signatures by the landlord and the tenant