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Commercial Lease Agreement

This Commercial Lease Agreement template is for businesses looking to formalise the rental of commercial property. It outlines the terms and conditions between a landlord and a tenant for the lease of business premises.

Updated 15d ago
commercial leaselease agreementproperty rentalSMEbusiness premiseslandlordtenantreal estate

COMPANY LETTERHEAD

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{{{email}}}}

Website: {{website}}

COMMERCIAL LEASE AGREEMENT

This Commercial Lease Agreement (hereinafter referred to as the “Agreement”) is made and entered into on this {{day}} day of {{month}}, {{year}}, by and between:

{{landlord_company_name}}, with its principal place of business at {{landlord_address}} (hereinafter referred to as the “Landlord”),

AND

{{tenant_company_name}}, with its principal place of business at {{tenant_address}} (hereinafter referred to as the “Tenant”).

The Landlord and the Tenant are hereinafter collectively referred to as the “Parties” and individually as a “Party.”

1. PREMISES

The Landlord hereby leases to the Tenant, and the Tenant hereby leases from the Landlord, those certain commercial premises located at {{property_address}} (hereinafter referred to as the “Premises”). The Premises shall be used solely for the purpose of {{permitted_use}}.

The Premises comprise approximately {{square_meterage}} square meters and include {{specific_areas_included_in_lease}}.

2. TERM OF LEASE

The term of this Lease shall commence on {{start_date}} (the “Commencement Date”) and shall terminate on {{end_date}} (the “Expiration Date”), unless sooner terminated as provided herein. The total term of this lease is for a period of {{number_of_years}} years and {{number_of_months}} months.

3. RENT

The Tenant shall pay to the Landlord a monthly rent of {{currency}}{{monthly_rent_amount}} ({{monthly_rent_amount_words}}) (hereinafter referred to as the “Rent”), payable in advance on the {{day_of_month_rent_due}} day of each calendar month. Payments shall be made to the Landlord at {{landlord_payment_address}} or to such other place as the Landlord may designate in writing. All payments shall be made in {{currency}}.

A late payment fee of {{currency}}{{late_fee_amount}} shall be applied if rent is not received within {{grace_period_days}} days of the due date.

4. SECURITY DEPOSIT

Upon the execution of this Agreement, the Tenant shall deposit with the Landlord a security deposit in the amount of {{currency}}{{security_deposit_amount}} ({{security_deposit_amount_words}}). This security deposit shall be held by the Landlord as security for the faithful performance by the Tenant of all the terms, covenants, and conditions of this Agreement. The security deposit shall be returned to the Tenant within {{days_to_return_security_deposit}} days after the termination of this Agreement, less any deductions for damages or unpaid rent.

5. MAINTENANCE AND REPAIRS

The Tenant shall, at its own expense, maintain the interior of the Premises in good order and repair, including all fixtures and equipment installed by the Tenant. The Landlord shall be responsible for all structural repairs to the Premises, including the roof, foundation, and exterior walls, unless such repairs are necessitated by the negligence or willful acts of the Tenant or its agents, employees, or invitees.

6. INSURANCE

The Tenant shall, at its sole cost and expense, obtain and maintain throughout the term of this Lease, commercial general liability insurance with a minimum coverage of {{currency}}{{liability_insurance_amount}} for bodily injury and property damage, naming the Landlord as an additional insured. The Tenant shall provide the Landlord with a certificate of insurance upon the Commencement Date and upon each renewal thereof.

7. USE OF PREMISES

The Premises shall be used solely for the purpose of {{permitted_use}} and for no other purpose without the prior written consent of the Landlord. The Tenant shall not use the Premises for any illegal or unlawful purpose.

8. ALTERATIONS AND IMPROVEMENTS

The Tenant shall not make any alterations, additions, or improvements to the Premises without the prior written consent of the Landlord. Any alterations, additions, or improvements made by the Tenant shall become the property of the Landlord upon termination of this Agreement, unless otherwise agreed in writing.

9. DEFAULT

If the Tenant defaults in the payment of rent or any other monetary obligation under this Agreement, or breaches any other term or condition of this Agreement, the Landlord may, upon giving {{default_notice_days}} days written notice to the Tenant, terminate this Agreement and repossess the Premises. Upon such termination, the Tenant shall be liable for any unpaid rent, damages, and costs incurred by the Landlord as a result of the default.

10. GOVERNING LAW AND JURISDICTION

This Agreement shall be governed by and construed in accordance with the laws of {{country}}. Any dispute arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts of {{country_judicial_area}}.

SIGNATURES

IN WITNESS WHEREOF, the Parties hereto have executed this Commercial Lease Agreement as of the date first above written.

LANDLORD:

_____________________________

{{landlord_signer_name}}

{{landlord_signer_title}}

TENANT:

_____________________________

{{tenant_signer_name}}

{{tenant_signer_title}}

WITNESSES:

1. _____________________________

Name: {{witness_1_name}}

Address: {{witness_1_address}}

2. _____________________________

Name: {{witness_2_name}}

Address: {{witness_2_address}}

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