A commercial lease is an agreement between a landlord and a tenant for nonresidential use of a property. Commercial leases differ from residential leases in that there are fewer protections for the tenants, no standard forms, the terms are usually long-term, and there is more flexibility in negotiating.
A commercial lease agreement should define what is being leased; whether the lease is a gross or net lease; the rental rate; who is responsible for maintenance; the approved activities for the property; and possibilities for additions and improvements to the property. Due to the high monetary stakes, a commercial lease should to be clearly and carefully drafted.
If you are a commercial landlord or tenant and would like to review or draft a lease with the assistance or an attorney, call Skinner Law Group today at (480) 422-3440 to schedule your real estate consultation.