A business tenant leases is a kind of lease which is specially designed for business. Here the lessor leases his property to the lessee for a specified period to be only used for business purposes. Such lease documents are legally binding for the involved parties and are drafted formally.
Sample Business Tenant Lease
The land owner Brad Henry hereinafter known as the lessor leases his property located at 23, Liberty Road, Euston, U.S.A. to the Angelina Steels hereinafter known as the lessee under the following terms and conditions.
- The lease shall commence on 1st July 2012 for a period of 5 years ending on 30th June 2017.
- The lease has an option to be renewed further for a period of 2years which is to be informed 3 months prior to the termination subject to the revision of rent.
- The lessee shall pay the monthly rent of $20, 000 which amounts to $ 2, 40, 000 annually tax excluded.
- The payments shall be made on the 1st day of the month by the lessee in advance.
- The security deposit of $50, 000 given by the lessee will be refunded on the termination of the lease deducting the expense for any kind of damage caused to the lessor property.
- The leased premises shall only be used for carrying out the business operations of Angelina steels and for no other purpose.
- All the cost of preparation of the lease agreement and the stamp duty will be paid by the lessee.
- All the bills for electricity, gas, water and any other expense shall be borne by the lessee.
- The lessee shall have a right to do some structural changes necessary for its business with a written permission of the lessor.
- The lessee shall have a right to sub lease the whole or a part of the leased premises but should inform the lessor.
- The lessor shall terminate the lease on violation of any of the clause of the agreement.
Signature of the lessor Signature of the lessee