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The Important Commercial Property Lease Agreement Terms That Must Be Included

By Author: Carl Glendon
Total Articles: 83

Whether you are a landlord or a property owner, you should never miss making the commercial lease agreement document, that serves as a legal agreement between you and the tenant. The rules to live in your property are stated in the particular document, and the repercussions are also stated clearly on breaking those norms.

The legally enforceable contract provides security to both the parties and doesn’t give way to any sort of misunderstanding in future. Thus, as a property owner or landlord, you must make sure to generate leasing agreements, so that you don’t lose your rights over the land or the building of yours.

Here are the important standard commercial lease agreement terms that you must make sure to include so that it protects your interests.

• The commercial property lease agreement must contain the detailed credentials of both the parties, from name to contact number of tenant and property owner or landlord.
• The agreement is not valid or cannot be enforced until and unless it contains the description of the land or property with the relevant and official address.
• The terms of the rent must also be included, from the amount of money required, to the last day of paying the rent, and late rent terms.
• The lease date and termination should also be stated clearly to avoid any confusion in the future between the two parties. The start and end of the lease is a must have information that a blank commercial lease agreement must contain.
• The security deposit details are also mandatory, and the property owner must also let the other party know about the process paying it.
• The responsibilities and duties of the tenant and the landlord regarding the maintenance and repairs of the property must be clearly written in the agreement document.
• The lease agreement also gives the right of entry to the property owner, as he can enter and investigate the property whenever he wants to with a prior notice.

The property owners can simply get the land or office lease agreement template from the online platforms and use their information and software to design their customized agreements free of cost. To learn more about drafting a commercial lease agreement in Michigan online, visit this website.

Author Resource:-

Carl writes often about legal drafting, rental & commercial lease agreements, power of attorney, Bill of Sale and help the people in such document needs. You can find his thoughts at commercial tenancy agreement blog. For more information about getting a commercial lease agreement, please visit this website.

Total Views: 23Word Count: 446See All articles From Author

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