A business lease contract is a legal document required when the owner of a business decides to lease his business to another individual or organization. The contract mentions the amount the individual or the organization has to pay the business owner as regular rental income. Both the parties entering into this contract are known as the lessor and the lessee.
Sample Business Lease Contract:
This contract is being drafted on 20th December 2010 between Edward Moore, the lessor residing at 5641 Kansas City Road, New York, New Jersey 4512 and Jack Woo, the lessee residing at 1234 James Ivory Street, New York, New Jersey 4512.
The lessor is giving his business with office at 2134 Aspen Road, New York, New Jersey 5612 on lease to the lessee according to the Business Lease Act of the state laws of New Jersey for a period of two years.
Both the parties need to follow the below mentioned terms and conditions:
a) The lessee has to pay the lessor a monthly of rent of $10000. The amount needs to be paid in advance on the first day of every month. In case there is default in payment, the lessor can terminate the contract.
b) The contract period begins on 22nd December 2010 and ends after two years on 21st December 2012.
c) During the tenure of the lease period, either of the parties can terminate the contract prior to which they need serve a notice period of one month.
Both the parties have showed their agreement to the terms and conditions:
Edward Moore Jack Woo
Dated: 20/12/2010 Dated: 20/12/2010