{"id":1170,"date":"2020-12-05T03:16:07","date_gmt":"2020-12-05T03:16:07","guid":{"rendered":"http:\/\/www.weblegal.ca\/?page_id=1170"},"modified":"2020-12-05T03:16:07","modified_gmt":"2020-12-05T03:16:07","slug":"commercial-lease-agreement","status":"publish","type":"page","link":"https:\/\/www.weblegal.ca\/templates\/commercial-lease-agreement\/","title":{"rendered":"Commercial Lease Agreement"},"content":{"rendered":"

A commercial lease agreement<\/strong><\/a> is entered into by a property owner and tenant in relation to a commercial property. Meanwhile, a residential lease agreement<\/strong><\/a> is for residential properties. A commercial lease is a legally binding contract that outlines the rights and responsibilities of both parties. Commercial lease agreements are generally for a fixed amount of time and involve a set monthly or annual rental amount. It is important that lease agreements be carefully worded so as to avoid any misunderstandings or legal conflicts.<\/p>\n

Commercial Lease Agreement Provisions<\/h2>\n

A typical commercial lease agreement<\/strong><\/a> covers a standard set of issues, beginning with the address of the property and its type. Property type is generally a matter of local ordinances in relation to the types of business activity allowed on site.<\/p>\n

Terms and Rental Payments<\/h3>\n

The terms of a commercial lease agreement stipulate how long the agreement is in effect. It can be a fixed amount of time or one that is periodically renewed throughout the life of the lease. In terms of rent, lease agreements stipulate the amount of rent to be paid and whether it is paid monthly, quarterly, or annually.<\/p>\n

Allowed Business Activities<\/h3>\n

Lease agreements normally stipulate the types of business activities that are allowed on the property. This may be subject to both local ordinances and landlord preferences.<\/p>\n

Leasehold Improvements<\/h3>\n

Tenants often wish to make improvements to the commercial properties they rent. Most lease agreements stipulate ownership of leasehold improvements in order to avoid conflicts later on.<\/p>\n

Security Deposit and Damages<\/h3>\n

A typical lease agreement stipulates any amount of security deposit due and how said deposit is applied to damage at the end of the lease.<\/p>\n

Other Considerations<\/h3>\n

In addition to the above, a commercial lease agreement<\/strong><\/a> often includes language addressing:<\/p>\n