Commercial Lease Agreement Application With Option To Buy In Palm Beach
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To ensure a Florida lease agreement is legally valid, certain requirements must be met. These include having a written agreement, disclosing necessary information, adhering to security deposit limits, and protecting tenant rights and protections.
Once properly executed and signed, a Florida lease agreement does not require notarization as a validity requirement. While all documents recorded in public records are notarized, notarizing a commercial lease agreement will not affect its validity – neither positively nor negatively.
Contact Eko Law today to work with our business attorney in Clearwater. While you can legally write your own commercial lease agreement in Florida, the risks often outweigh the benefits. For most landlords and business owners, the expertise of a qualified attorney is invaluable in this process.
How to write a Florida lease agreement Begin with the basics. Include the names and addresses of both the landlord (lessor) and the tenant (lessee), along with the residential property's address. Specify the term of the lease. Address security deposits. Include maintenance responsibilities. Add additional provisions.
Lease agreements are considered to be legally binding once the document is signed by both parties.
There are many reasons why a Landlord and Tenant may choose to include an “option” in a commercial lease. The most common type of option is one that gives the Tenant the right to extend the lease term, usually for additional — sometimes two or more — terms of equal length to the original term.
The following terms should be included in a written commercial real estate lease agreement including: (1) party names (today, in commercial leases, most landlords also name the individual with the business entity), (2) a description of the subject property, (3) the lease term (can be in years or months), (4) the amount ...
For example, a tenant and landlord may agree to a five-year lease with a five-year option to renew. At the end of the first five years, the tenant is given the chance to continue the lease for another five years. If you think you may renew, be sure to bring up extension provisions with your landlord.
