Commercial Lease Agreement Template

Evaluate the Length of the Lease. Research Comparable Rents. Look for Hidden Costs. Ask for Favorable Clauses. Check the Termination Clause Closely.

Start with the title section. Think of this letter as a formal communication from the landlord to the tenant. Set the stage. Your letter should have a reference section which would explain its contents. Include the renewal terms. Request for a response. Affix your signature.

Once the lease is signed, you're bargaining power is a lot lower. However, you can still try to negotiate with your landlord.If you can find a compromise that helps both you and your landlord financially, he might agree to lower your monthly rent even after a lease was signed.

With Tenant Consent. If the tenant and landlord both agree to the change, the parties can either (1) execute a new lease or rental agreement that includes the new clause, or (2) amend the existing lease or rental agreement. Without Tenant Consent.

Can the contractual term of a commercial lease be extended? Yes. Subject to satisfying certain criteria, business tenants have a statutory right under the Landlord and Tenant Act 1954 to extend the contractual term of their lease. At the end of the lease, the tenant can ask the landlord for a new lease.

Depending on how granularly you want to get into the details, an office lease can take anywhere from one day to a year or more to negotiate. Most commonly it will be in the three to nine month range.

Read the terms of your agreement. Before you start the process of trying to renegotiate, it's important to clearly understand the terms of your lease agreement. Do research. Write a letter or call to explain your situation. Alter the lease terms.

A renewal option allows for a lease to apply to a specified time period, but the lease can be extended for another term if agreed upon by the participating parties. Renewal options may have specifications or conditions, such as when the lessee must let the landlord know if they will be renewing.

Surrender the Lease. One option for getting out of your commercial lease early is to approach your landlord and request to surrender the lease. Early Termination Clause. Some lease agreements will contain an early termination clause (commonly called a break clause). Assignment of Lease. Subletting the Premises. Licensing.