The commercial rental lease is a document which is used to lease out the commercial space/ equipment/ property to the lessor. This lease has a fixed tenure for which the commercial asset is rented out. The commercial renting may have many forms like office, retail, ground, mixed use and warehouse uses. These types of leases contain the details of the parties involved and the terms and conditions agreed between them.
Sample Commercial Rental Lease:
The following parties have agreed to go for the commercial rental Lease:
- Lessor: Graham Co. Ltd
- Lessee: HFR Corp.
This is to lease out agricultural instrument to HFR Corp for their agricultural farm by the Graham Co. ltd who are the manufacturer of these instruments.
Duration of Lease: 2 years
Date of commencement of the lease: 3.7.2011
- The lessee will have to pay the rent of $12000 per quarter for the entire range of the instruments requested by them.
- A security deposit of $20000 has to be paid towards the lease of the instruments.
- The maintenance of the instrument is the liability of the lessee and he has to get it repaired in case of any damage.
- The instruments have to be returned back in the same condition as received in the beginning.
- No parties can break the legal terms and conditions mentioned in the lease and if they do so, they will be legally penalized.
- The ownership of the instruments is retained by the lessor itself.
Signature of the Lessor:
Signature of the Lessee: