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Commercial Lease Agreement For Tenant

Written By: Chris - Sep• 14•21

Many commercial real estate contracts involve rent increases at certain intervals, for example. B when the lease is renewed. Unlike a residential lease, a commercial lease assumes that the property is used for commercial purposes and not for residential purposes. The property that is rented can be a simple office, an entire building, an independent retail business, a new restaurant, or even a large warehouse for industrial use such as a production plant or a self-storage establishment. If the property for rent is part of a larger building, the owner may address particular concerns and obligations regarding common areas such as car parks or lobbying areas. Accordingly, tenants and landlords should carefully negotiate the terms of this agreement to ensure that each party is properly protected and that obligations are clearly defined. Unlike residential property, commercial leasing is described as a price per square foot ($/SF). If you are trying to pay the rental amount, it is a good idea to set the price that is close to what others are asking near you. If you want to retain the ability to accept a sublet, it is important that you are fair to the tenant and do not act inappropriately when it comes to making subletting decisions.

You can specify the conditions that the subtenant must meet to qualify for a sublease, for example. B the tenant`s financial health or how the new tenant will use the property. Many commercial contracts include an arbitration clause to settle this type of dispute. An arbitration clause requires the parties to use and accept an arbitrator`s decision instead of initiating legal proceedings. While the basic concepts and terms of a commercial lease resemble a lease you may have signed for an apartment, there are still differences between commercial and private leases that you must adhere to. . . .

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