Montana Commercial Building or Space Lease
What this document covers
This Commercial Building or Space Lease is a legally binding agreement specifically designed for the state of Montana. It facilitates the leasing of a commercial property, detailing essential terms and conditions regarding rental payments, lease duration, property maintenance, and tenant responsibilities. Unlike residential leases, this form is tailored for business operations and includes clauses relevant to commercial real estate transactions.
Main sections of this form
- Details of the parties involved: lessor and lessee.
- Lease term and period of agreement.
- Monthly rent amount and payment terms.
- Rules regarding late payments and applicable charges.
- Specific obligations concerning property maintenance and repairs.
- Conditions for lease termination and default.
- Security deposit requirements and management.
Common use cases
This lease form should be used when entering into a commercial rental agreement for a building or space in Montana. It is suitable for various business purposes, including offices, retail spaces, or other commercial establishments. You may need this document when negotiating terms with a landlord or a business partner, ensuring clear understanding and protection of rights throughout the lease period.
Intended users of this form
- Business owners seeking to lease commercial space.
- Landlords or property owners renting out commercial properties.
- Real estate agents involved in commercial leasing transactions.
- Individuals negotiating commercial leases for offices or retail locations.
How to complete this form
- Identify the lessor and lessee by entering their full names and contact information.
- Specify the property being leased, including its address and any relevant details.
- Fill in the commencement and termination dates of the lease.
- Enter the monthly rent amount and other specific financial obligations.
- Review and finalize terms regarding security deposits and maintenance responsibilities.
- Ensure both parties sign and date the document to validate the agreement.
Is notarization required?
Notarization is required for this form to take effect. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session, available 24/7.
Common mistakes to avoid
- Forgetting to specify the lease duration clearly.
- Not providing complete contact information for both parties.
- Neglecting to outline all financial obligations associated with the lease.
- Failing to specify maintenance and repair responsibilities.
- Omitting signatures or dates, rendering the lease unenforceable.
Why complete this form online
- Convenience of downloading and completing the lease from anywhere.
- Editability allows you to customize the lease to fit specific needs.
- Reliability of using attorney-drafted templates for legal accuracy.
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FAQ
The lease should state who is responsible for arranging and paying for buildings insurance. With most leases, the landlord arranges and pays for buildings insurance but then passes on the costs (or an appropriate proportion, in shared premises) either as part of the service charge or as a separately itemised charge.
In the commercial leasing industry, $/SF/year or $/SF/yr means the rent per square foot per year.Let's say you receive a quote of $20/SF/year for a 1,000 square foot space. This would be calculated as $20 x 1000 square feet = $20,000 total (this is the cost for the total year).
The Use Clause and Exclusive Clause A use clause limits how you'll use the rented space.
Rates. Most commercial lease rates are quoted in annual dollars per square foot. Example: $15/SF In most cases (at least on the east coast of the US) this means you will pay $15.00 per square foot per year.
The lease should include basic facts and data about the property, including the physical address and the landlord's name and contact information. It should also state the date the lease was signed; the beginning and end dates of the rental period; and options for lease renewal, including policies for rent increases.
Name the parties. A simple rental agreement form needs to name the parties signing the lease and where they live. Describe the premises. Define the term of the lease. Set how much rent is owed. Assign a security deposit amount. Finalize the lease.
NNN stands for Triple Net rent. In this type of commercial real estate rent, you pay the amount listed and you also have pay additional costs (usually Operating Expenses) on top of that. For example: say the Office Space listing you're interested in says the rent is $24.00 NNN per sqft/year.
The Introduction. The beginning of the lease agreement should contain the name of the landlord and tenant, as well as a statement of the agreement into which they are entering. Rent. Deposit. Taxes. Property Insurance. Utilities and Amenities. Remodeling and Improvements. Repairs and Maintenance.
Take Your Price Per Square Foot. Multiply That by Your Total Square Footage. That Gives You Your Total Annual Rent. Divide by Twelve for Monthly Rent.