A commercial lease agreement is a contract signed between a landlord and his tenant, specifying the details of their relationship. Find out how to draft such an agreement, and the specifics to include therein. Please visit this site to get a sample commercial lease agreement in Maine.
Name and signature
The contract needs to mention the name and location or address of the lessor and the lessee. It should also have the signature of both of them, mentioned at the end section that defies the involvement of one with the other. It should also include the date when the agreement is to be implemented, or when it will come into effect.
Subject of the agreement
The subject of the building lease agreement should be specified as well, where mention must be made of the following:
- Payment time
- Payment delivery date
- Mode of payment
- Lease amount
- Location and details of the leased property
Various other conditions should also be included, and you have to specify whether these are for the short or the long term.
Conditions for property safeguarding
You should also include various conditions that can keep your rented property protected, if the terms are violated by either party. The conditions mentioned in the free commercial lease agreement should include:
- Liquidated damages
- Insurance
- Warranties
- Cancellation clauses
- Indemnifications
If you are drafting an agreement for specific time period, the termination clause should be included as well. Including this clause will assist both parties in ending the lease contract before the real date when the agreement comes to an end.
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