A commercial lease agreement is designed to outline the norms and limits of a lease of property that has been taken for commercial use, such as business holdings, retail stores or any profit-making purpose. Such a lease should clearly portray all legal issues related to the lease agreement, so as to make all involved parties aware of all the features of the contract.
Sample Commercial Lease Agreement:
Lease number: 657349
This lease agreement confirms that all parties of the deal have read and understood all the clauses of the agreement properly and have thus sworn to abide by the same. Any misconduct related to the agreement will be unlawful and be treated as a breach of contract, which may also result in penalization of the convicted. The following are the details of the contract:
The property is being leased for use as a customer service store. No other uses, whether commercial or personal, will be entertained.
Validity of the lease: 2 years [11th May, 2011 – 11th May, 2013
Name of lessor: Michael Gere
Owner of Morrison Companies Pvt. Ltd.
Address: 45, Rhodson Lane, New York
Name of lessee: Thomas Elkins
Address: 37, Loudon Street, New York
Property to be taken on lease: 14 – B and 14 – C, Morrison Apartments, New York
Total area covered: 3400 sq feet
Price as per current market rates: $ 16800000
The commercial lease agreement has been witnessed by:
- Richard Jones [advocate]
- Elisa Cruise
- Silvia Gomes
I promise to have provided all information that were to the best of my knowledge true and will conduct business following the rules and regulations that govern the state.
[Signature of lessor]
[Signature of lessee]