A commercial lease agreement should be compact and watertight, to keep the interests of landlords properly covered. There is no dearth of cases these days where leased parties seize the property of the landlord by exploiting legal loopholes in the contract. Find out about some important things that you should mention while drafting such an agreement. For more information about getting a commercial lease agreement in Louisiana, please visit this website.
Specify the space
It is essential to specify the exact space that you let out to the tenants. There have been many instances where plenty of difference has been noted between the specified space and the actual space of the rented property.
Number of tenants
You should also write about the total number of tenants you will allow in the property that you rent out. In many cases, it has been found that tenants get more people – friends or family members – to live with them after a property is leased to them. This actually leads to a mismanagement of the rented property. Thus, the number of tenants permissible should be mentioned in the commercial property lease agreement. Whether the proprietor allows any rise in the number must be specified in the agreement.
Types of activities
The standard commercial lease agreement should also specify the activities that tenants are not allowed to engage in, such as playing loud music, using drugs, burning toxic materials within the premises, keeping inflammable or dangerous substances within the property, keeping pets etc. The commercial lease agreement must mention all such activities that you - the proprietor or manager of the property – are okay or not okay with.
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