A commercial lease is a type of a lease which is made in the case when a commercial property or equipment is leased from the owner by another person or party for a fixed period of time. Whenever the owner of the commercial asset enters into a mutual understanding for lease of the asset, then the contract that formulates is known as a commercial lease agreement contract. The formal titles given to the participants of such a contract are lessor and lessee. Such contracts are highly important in nature and the reasons for the same are provided below:
- Commercial lease agreement contracts can be used as proof of mutually discussed terms in the case when one of the parties violates any of the terms or conditions.
- These contracts act as safeguard measures to protect rights of the properties and avoid them from bearing any kind of loss.
- Commercial lease agreement contracts specify the rental payment details and the total effective period, both of which are important for the future course of the contract.
- A commercial lease agreement contract helps the law bodies to investigate the issue and resolve any kind of dispute between the lessor and the lessee.
Sample Commercial Lease Agreement Contract :