Commercial Lease Agreement
What is this form?
The Commercial Lease Agreement is a legal document used when a landlord (lessor) leases property for commercial purposes to a tenant (lessee). This agreement outlines the terms under which the lessee can use the property, including the rental amount, lease duration, and permitted property uses. It ensures both parties understand their rights and responsibilities, distinguishing it from residential leases which have different regulations and expectations.
Key parts of this document
- Parties involved: Identification of the lessor and lessee.
- Property details: Description of the leased property and any improvements included.
- Lease term: Duration of the lease and conditions for extension.
- Rental payment terms: How much and when the lessee must pay rent.
- Permitted use: Specific purposes for which the property may be used.
- Maintenance obligations: Responsibilities for repairs and maintenance.
- Indemnification: Terms protecting both parties from certain liabilities.
Common use cases
You should use the Commercial Lease Agreement when you are a property owner looking to rent commercial space, or a business seeking to lease premises for operations. This form is essential in various situations, such as establishing a retail shop, office space, warehouse, or any other commercial endeavor that requires a formal agreement between a lessor and lessee.
Who can use this document
This agreement is suitable for:
- Property owners or landlords seeking to rent out commercial space.
- Businesses or individuals looking to lease commercial real estate.
- Real estate professionals and brokers who facilitate commercial leases.
- Corporate entities that require a lease to formalize their occupancy.
How to complete this form
- Identify the parties: Fill in the names of both the lessor and lessee.
- Specify the property: Provide a detailed description of the commercial property being leased.
- Enter lease duration: Indicate the length of the lease and the start and end dates.
- Detail payment terms: Specify the annual rental amount and payment schedule.
- Outline permitted uses: Clearly define what the property can be used for.
- Sign and date: Ensure both parties sign and date the agreement to make it legally binding.
Notarization requirements for this form
This form does not typically require notarization to be legally valid. However, some jurisdictions or document types may still require it. US Legal Forms provides secure online notarization powered by Notarize, available 24/7 for added convenience.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Typical mistakes to avoid
- Failing to specify the property details accurately.
- Not including all necessary terms related to rent payments and due dates.
- Leaving out obligations for repairs and maintenance responsibilities.
- Not defining permitted uses clearly, which can lead to disputes.
- Neglecting to have all parties sign and date the document.
Advantages of online completion
- Quickly downloadable, allowing immediate access to essential legal documents.
- Designed by licensed attorneys to ensure legality and enforceability.
- Edit and customize the form easily to fit your specific needs.
- Cost-effective solution compared to hiring legal counsel for straightforward leases.
- Access to resources and customer support for assistance.
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FAQ
Names of all tenants. Limits on occupancy. Term of the tenancy. Rent. Deposits and fees. Repairs and maintenance. Entry to rental property. Restrictions on tenant illegal activity.
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.
Commercial leases fall within the ambit of the CPA and refer to an agreement between a landlord and a business setting out terms and conditions governing a property rental. The CPA applies to contracts entered with natural persons and juristic persons with an annual turnover or asset value of less than R2 million.
This means that a private lease agreement will be covered by the CPA.The CPA does not apply to transactions where the consumer is a company, close corporation or a trust with an annual turnover or net asset value of R2M.
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.
The cost of registering a lease is generally paid by a tenant. Leases with a lease period of more than three years, including any option period, must be registered. This helps to protect the tenant's interests. The tenant pays their own legal costs.
The Consumer Protection Act (CPA) does NOT apply to all lease agreements (or rental agreements). This is really important to know because the Consumer Protection Act has a big influence on the lease and changes the legal position between the landlord and tenant significantly.Tenants already have lots of protection.
The Parties & Personal Guarantees. Lease Term & Renewals. Rent Payments and Expenses. Business Protection Clauses.
Single-net lease (N lease) In a single-net lease, the tenant pays a base rent, a share of the building's property tax, as well as utilities and janitorial services. Double-net lease (NN lease) Triple-net lease (NNN lease) Absolute triple-net lease.
