A commercial rental contract is a legal written commitment created between the owner of the commercial property and the renter organization. All the details regarding the property and others terms and conditions are mentioned in this contract.
Sample Commercial Rental Contract:
Contract File Number: 67/ KL
Effective Date of the contract: November 26th, 2010.
This commercial rental contract is commenced between Diego Buildings Pvt. Ltd, hereinafter referred as the owner party AND, Maya Cosmetics Pct. Ltd, hereinafter referred as the renter party.
Whereas, the renter party is interested to hire the floor No: 5 for establishing the new cosmetic business as a dealer and the owner party is willing to rent his/ her building floor for the commercial purposes.
This contract is commencing on November 28th, 2010 and is terminating on November 28th, 2012.
Underneath given are the term & conditions for initiating the new business relationship:
The owner party will receive $5670 as a monthly rental on the 7th of every month. The renter party will pay the amount for two years, whereas the owner party has already taken the security deposit of $ 456700 from the renter party.
Both the parties will maintain the professional relationship and will follow the committed promises. The rented property will be solely used for the commercial purposes.
This clause can be true in case any monetary or legitimate issue occur between both the parties. If the occurred issue is of serious nature, and any party wants to quit, this contract will be dissolved. The guilty party will pay 40% of the total amount to the alleging party.
Owner party and the renter party will sign and accept the commercial renal contract:
Signature of the Owner party:
Signature of the Renter party:
Signature of the Solicitor: