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For example, let's say a tenant signs an index lease for a commercial property with a base rent of $1,000 per month. The lease agreement states that the rent will increase by 2% for every 1% increase in the consumer price index.

While there is no legal requirement to have a solicitor for a commercial property lease, it is highly advisable to seek legal advice to protect your interests and ensure you understand the terms and conditions of the lease.

Legal Costs of Drawing up the Lease The solicitors acting for the Developer will almost always make a charge for drawing up the Lease which has to be paid by the buyer of the property. This is normally between £58.75 and £117.50 including VAT.

There is no minimum or maximum term for commercial leases. However, commercial leases tend to have fixed terms of between 1 and 25 years. Within this, most commercial leases are between 1 to 3 years. You and your landlord will agree on the fixed term of your lease before you commit to the lease.

A graduated lease is an agreement under which a tenant and landlord agree to a periodic adjustment of monthly payments. For example, the agreement may reflect an increase in the tenant's payments due to market conditions or an increase in the value of the leased property.

To rent commercial property, you must sign a lease agreement or licence. A lease is a legally-binding contract which sets out the terms and conditions of the tenancy agreement between landlord and tenant. It offers long-term stability compared to a licence, for example.

Over the lease period, the lessor will have recovered the total cost of the asset through fixed monthly lease payments. During the leasing contract, the lessee is responsible for the maintenance and insurance of the assets despite not owning the equipment.