What Is A Commercial Lease Agreement?
A commercial lease agreement a written contract between a business owner and a landlord. Most business owners prefer renting a property because it saves money. However, this agreement is more complicated compared to the residential one. It is due to the negotiable term. In this page, you will find many simple commercial lease agreement that you can download for free. But before you sign the contract with the lessee, it is wise to get some knowledge about how it works.
What Are The Differences Between Lease Residential Agreement and Commercial Lease Agreement?
Of course, there are many differences between these contracts, from the legal protections, negotiable terms, varied terms, and longer terms.
- Legal Protections – For consumers who apply the residential lease agreements gets less protection against the landlords because most business people are more knowledgeable.
- Varied Terms – For a noncommercial lease, the landlord can use the standard lease agreement because the tenants don’t need detail requirements. However, it has many terms because each of them is different.
- Negotiable terms – As we said before, the commercial leases are negotiable which include the rent price, the length of the lease, improvements and also rent increase.
- Longer terms – Residential leases are mostly less or no more than a year. Conversely, the commercial lease agreements are mostly for several years.
- What Are The Most Important Things From Commercial Lease Agreement Terms?
- Since this document is for a business, so make sure the agreement will meet the need of business because this will lead to bad consequences. Usually, the terms in the simple commercial lease agreement include:
- Rent amount – Typically a landlord will calculate the rent price from the square footage.
- Rent Increases – Usually, in a commercial lease agreement, the landlord will issue increase payment. This is why tenants can negotiate the percentage of the increase.
- Security deposit – There should be an amount of security deposit and also the terms about its return.
- Length of the lease – For business, most business owners prefer the long term lease agreements because it gets cheaper. But when you are just running a business, this is totally unwise because the future is uncertain.
- Improvements – It is important to state what properties can be improved, who will pay the improvement and does the tenant has a big responsibility returning the condition like before after certain renovation?
- Signs – A commercial lease agreement doesn’t prohibit the business owner to place a sign for business success.
- Clause – In a commercial level, a clause is used to protect the landlord and the properties from damage and also liability.
Our simple commercial lease agreement will give you quick work for making a contract with the tenants. It comes with varieties of designs and layouts with many sections you can customize. Additionally, keep in mind that the lease law in your state might change often and you should check it regularly.
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