A commercial property tenancy contract is a document drafted when an individual owning a commercial property gives it on rent to an individual or an organization. The property rented has to be solely used for the commercial purpose. The terms and conditions mentioned in the document should be followed by both the parties or else legal action can be taken.
Sample Commercial Property Tenancy Contract
Commercial Property Tenancy Contract Number: AS452
This contract has been developed for the purpose of serving as a commercial property tenancy contract. The contract he been registered and entered into on 20th of February, 2011 between Ron Howard and General Motors Corporation Limited to give the commercial property owned by Ron Howard on rent to General Motors Corporation Limited to be used as an office premise. The location of the property is:
Sun Set Building
A wing, Office number 1041
4512 Horny Street
New York, New Jersey 5214.
Both the parties have to adhere to the following terms and conditions:
- Before the contract begins General Motors Corporation Limited has to pay a security deposit of $50000. The organization also has to pay six months’ rent in advance.
- If General Motors Corporation Limited is found involved in any illegal activity, then Ron Howard can cancel the contract immediately and take legal action against the organization.
- The monthly rental amount will be $10000.
- The contract expires on 19th of February 2013.
Find the signature of both the parties below:
Signature of the landlord Signature of the tenant
Ron Howard Jack Beanstalk
(CEO, General Motors Corporation Limited)