Commercial Real-Estate Lease Agreement Document

A Commercial Real-Estate Lease Agreement Document is a real estate lease agreement document for commercial property (that outlines the contractual rights and contrual obligations of the landlord and a business tenant over the rental of commercial space).

• Context:
  • It can (typically) be a Business-to-Business Contract.
  • It can (typically) be composed of Commercial Lease Agreement Sentences.
  • It can (typically) be influenced by Commercial Property Lease Laws.
  • It can range from being a Gross Commercial Lease Agreement to being a Modified Gross Commercial Lease Agreement to being a Commercial Lease Agreement Triple-Net, to being a Percentage Commercial Lease Agreement, depending on the terms for handling property-related expenses between the landlord and the tenant.
  • It can (typically) contain Commercial Lease Agreement Contents such as:
    • Commercial Lease Agreement Articles, which may include:
      • A Premises Article, defining the physical boundaries and specifics of the leased space.
      • A Term Article, detailing the commencement and expiration dates of the lease.
      • A Rent Article, specifying payment amounts, intervals, and conditions.
      • A Use Article, outlining permitted uses of the leased premises.
      • A Maintenance Article, allocating responsibilities for repairs and upkeep.
      • ...
    • Commercial Lease Clauses, which may include:
      • A Rent Escalation Clause, addressing adjustments to the rent over the lease term.
      • A Use Restriction Clause, detailing restrictions on the business activities permitted.
      • A Maintenance and Repair Clause, defining the roles of the landlord and tenant in property upkeep.
      • An Alterations and Improvements Clause, specifying conditions for tenant modifications to the premises.
      • A Termination and Renewal Clause, outlining conditions for lease renewal and early termination.
      • ...
    • Commercial Lease Provisions, which may include:
      • A Rent Payment Provision, detailing how and when rent is to be paid.
      • A Permitted Use Provision, specifying the business uses allowed for the leased space.
      • A Landscaping and Exterior Maintenance Provision, outlining responsibilities for outdoor area upkeep.
      • A Signage Provision, setting rules for tenant signage on the property.
      • A Notice of Termination Provision, describing the process for either party to terminate the lease.
      • ...
  • It can (typically) be governed by Commercial Property Law and adhere to specific regulations that affect commercial leasing.
  • It can (often) require negotiations between the landlord and the business tenant to address specific needs related to the commercial use of the property.
  • …
• Example(s):
  • Office Lease Agreement, which is specifically tailored for leasing office spaces.
  • Retail Space Lease Agreement, which is specifically tailored for leasing retail spaces.
  • Industrial Lease Agreement, which is designed for leasing industrial sites or warehouses.
  • Ground Lease Agreement, which is used when leasing a piece of land for commercial purposes.
  • …
• Counter-Example(s):
  • a Residential Lease Agreement, which is a lease agreement for residential properties and not commercial use.
  • a Venue Rental Agreement, ...
• See: Building Codes, Commercial Real Estate Development, Leasehold Improvement, Real Estate Investment Trust, Sublease Agreement, Tenant Improvement Allowance, Zoning Ordinance, Triple-Net Commercial Lease Agreement.

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References

2023

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  • A Commercial Property Lease Agreement is a legally binding contract that outlines the rights and obligations of the landlord and a business tenant over the rental of commercial spaces such as offices, industrial sites, and ground areas. With a typical duration of three to five years, the tenant pays a monthly fee in exchange for property usage. The agreement details several key issues including identification of the involved parties, description of the property, lease term, rent amount, security deposit, and rules concerning alterations, insurance, defaulting, subleasing, dispute resolution, etc.

    Various types of commercial leases, like gross, net, and triple net leases, provide different ways to distribute property-related expenses between the landlord and the tenant. Given their role in offering legal and financial protection to both parties, these agreements should ideally be drafted or reviewed with the help of legal professionals, to ensure clarity and mutual benefit in their negotiation.

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