A commercial-property rental agreement is a contract between a landlord and tenant for a defined amount of space in a building called the leased premises. The parties must review the terms, as each rental agreement may have differences.
Term & Rent
1. Commercial-property rental agreements state the lease term. For renewal of the lease, the tenant issues a written notice to the landlord within a specific amount of time as dictated by the agreement, sometimes up to 90 days of the renewal date. The lease also sets out the amount of rent and when it’s due.
Alterations & Improvements
2. Modifications and redecorating of the commercial property is up to the tenant at his expense, but he must receive consent from the landlord before work begins.
Damages & Destruction
3. Should the leased premises become damaged through no fault of the tenant, her agents or business invitees, the tenant may elect to terminate the commercial-property rental agreement within 90 days of the event causing the damages.
Subletting
4. Some rental agreements authorize the tenant to sublet the leased premises, which means the tenant may assign the rental agreement to another tenant for the remaining lease term.
Insurance
5. Both landlord and tenant must carry insurance. The landlord obtains insurance on the building and the leased premises, while the tenant obtains insurance on his personal contents. Some commercial-property agreements contain harmless clauses such as in the event of a loss, the at-fault party must release the other party from liability.
Relevant Posts
- Companies Tips
Where to find business partners
During his lifetime, a person gets to know people, you unwittingly arming personal networks: family, friends, coworkers, study center, etc.
Given the need for mor... - When should I refinance my mortgage?
A refinancing is effective reducing the interest rate on your current mortgage for at least 1%. Maybe you should also consider changing the length of your loan or receiving cash from the accumulation ... - Real Estate Prices in San Diego exhibited a Boost
Statewide in California, property prices showed a rise of more than 14 percent during March from the previous year's figures. Listings of foreclosures, in turn, observed a low, and undermined the numb... - Real Estate: Modifications and Short Sales
Among the more interesting messages, three were based on the new phenomenon of mortgage modification. Three others were about the slowness of banks to respond on "short sales" or short sales, the name... - Mathis Brothers Furniture Review
Mathis Brothers Furniture was founded in 1955 by two men called Don and Bud Mathis. These two men were responsible for the management of the Company until later on they decided to sell the establishme... - About Real Estate Auctions
Real estate auctions are a means used to convey real property from seller to buyer. Potential buyers assemble, register and then participate in competitive bidding mediated by a licensed auctioneer.
... - An Idea of The Los Angeles Real Estate: Sellers’ Win
It would be very surprising to see a dichotomy in which almost everything in Los Angeles and the same applies to their real estate. Real estate Los Angeles tops the national list foreclosures and its ... - Are You Building Your Dream House? Consult With New PA Homes
People must feel the best atmosphere that can give them comfortable feeling when they are home. People have different dream house with certain details to enjoy in their life. Some people want to have ... - What To Expect from the Roofing Company You Choose
There are actually several things that you should expect from the roofing company that you ultimately choose to repair or replace your roof. Obviously, you will want to know that the job is done right... - Flat Hunting for Young Families
Written by Dane Cross on behalf of One UK, a UK based estate agents who specialise in flats in Leeds.
Towards the close of summer, many leases will expire and the rush to find a new flat will begin...
Term & Rent
Posted in 
Tags: