A building rental lease refers to a commercial lease agreement whereby the lessor leases a building to the lessee to be used as an office or as space to conduct business. A building must be chosen by the lessee according to his needs, space requirements and location. The entire building is usually not leased by one party and hence some common utilities can be shared by more than one party who has leased the building. The important things to be included in the building rental lease are the names of the lessee and lessor, the rent, security deposit, terms of waiver of security deposit if any, provision for delayed payments in case business is not going strong, termination conditions etc.
Sample Building Rental Lease:
This building rental lease contract has been entered on February 21, 2012 by the lessor Glider Real Estates to lessee Arthur Law Agency for a period of 2 years.
- Address: 3099 Golding Towers, Los Angeles
- Rent p.m. : $5,000 per floor
- Purpose: To be used as a law firm
Terms and Conditions:
- The lessee shall pay a security deposit of $20,000 which will be put in a bank account by the lessor until the lease term is over
- The lessee shall be responsible for paying the rent on time and in emergency circumstances, a grace period of one month will be given
- The lessee must pay for the utilities and the water bill will be shared by the other lessee in the building
The undersigned hereby agree to the terms.
Signature (Lessor) Date
Signature (Lessee) Date