Which Information Should Be Included In A Commercial Lease Agreement?

A commercial lease agreement is the name given to a lease agreement for a business, or commercial space, instead of a residential space. This type of contract is signed between a commercial tenant and a landlord. As compared to residential leases, commercial lease terms are generally over a year in duration and there might not be any restrictions on how big the deposit amount might be. When you draft a commercial lease agreement, such as a shop lease agreement, here are some types of information that must be included. Please visit this site to ​​get a sample commercial lease agreement in California.

 

Property description

It is essential to give a clear description of the property that is being given out on rent, so that there are no confusions about its location. Mention its address and ensure that it is to the point, and accurate, so that even if there are any legal problems involving the property at a later time, the judge will have no confusions about which property has been mentioned in the lease agreement.

Payment information

This should include the rental amount that the tenant has to pay at specific intervals, such as every month. The terms of payment, such as late fees, how payment would be made, due dates etc, should be made clear. Additional fee information should be included in the office lease agreement template as well, such as utility bills, maintenance costs etc, and who is supposed to pay for them. Any deposit amount needs to be mentioned as well, and the mode of payment or how you would like to be paid should also be included.

Specific provisions

You should also include many other provisions in the commercial building lease agreement document, such as subleasing, dispute resolution, indemnification, remodeling restrictions and more. All these should be mentioned properly, so as to make the rights and responsibilities clear for the tenant.

For more information about getting a commercial lease agreement in South Carolina, please visit this website.

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