Commercial Lease Agreement
This lease is made on Agreement date between Landlord name, of Landlord address (the "Landlord"), and Tenant business name, of Tenant registered or business address (the "Tenant").
1. Premises
The Landlord leases to the Tenant the premises at Premises address, being Premises description (floor, unit, area) (the "Premises"). The Tenant may use the entrances, stairs, lifts, and toilets of the building in common with others.
2. Permitted use
- The Tenant will use the Premises only for Permitted use, and for no other purpose without the Landlord's written consent.
- The Tenant gets and keeps every licence and permit that its business needs at the Premises.
- The Tenant will not live in the Premises, cause a nuisance, or keep dangerous goods there.
3. Term
The term starts on Start date and lasts Term (years) years. The lease ends at the end of the term, unless the parties sign a new lease or the law of the place where the Premises are says otherwise.
4. Rent
- The rent is Monthly rent a month, paid in advance on or before day Rent due on day of each month, by How rent is paid.
- The rent does not include sales tax, VAT, or GST. The Tenant pays any such tax on the rent where the law charges it.
- The Tenant pays interest of Interest on late payments (% a year) percent a year on any amount that is more than 14 days late, from the due date until payment.
5. Rent increase
On each anniversary of the start date, the monthly rent increases by Yearly rent increase (%) percent of the rent then payable.
6. Security deposit
- The Tenant pays a security deposit of Security deposit when it signs this lease. The deposit secures the rent and all other duties of the Tenant.
- The Landlord may use the deposit to pay any amount that the Tenant owes. The Tenant then restores the deposit within 14 days after written notice.
- The Landlord returns the deposit, with a written list of any deductions, within Days to return deposit days after the Tenant gives back the Premises.
7. Service charge, utilities, and taxes
- The Tenant pays a service charge of Service charge a month a month for the cleaning, lighting, security, and upkeep of the shared parts of the building. The Landlord shows the Tenant the yearly costs on request.
- The Tenant pays for these utilities, by separate meter or a fair share: Utilities the tenant pays.
- The Tenant pays the taxes and charges that the law places on the occupier of the Premises. The Landlord pays the taxes on the ownership of the building.
8. Repairs
- The Landlord keeps the structure, roof, outside walls, shared parts, and main building services in repair.
- The Tenant keeps the inside of the Premises, the doors, the glass, and its own fixtures and equipment in good repair and clean, except for normal wear and tear.
- The Tenant repairs any damage that the Tenant, its staff, or its visitors cause, and tells the Landlord promptly about any defect.
9. Alterations and signs
- The Tenant will not make structural alterations.
- The Tenant may make internal non-structural alterations with the Landlord's written consent, which the Landlord will not unreasonably refuse or delay.
- The Tenant may put up a sign with its business name at a place that the Landlord approves. The Tenant gets any permit that the sign needs.
10. Insurance
- The Landlord insures the building against fire and the other usual risks for its full rebuilding cost. The cost of this insurance is part of the service charge.
- The Tenant insures its own goods, fit-out, and equipment, and keeps public liability insurance of at least Tenant liability insurance cover.
- If an insured risk makes the Premises unfit to use, the rent and service charge stop until the Premises are fit again. If the Premises are not fit again within 6 months, either party may end this lease by written notice.
11. Assignment and subletting
The Tenant will not transfer this lease, sublet, or share the Premises, in whole or in part, without the Landlord's written consent. The Landlord will not unreasonably refuse consent to a transfer of the whole Premises to a business that can pay the rent.
12. Landlord's entry
The Landlord may enter the Premises to inspect, repair, or show them to a future tenant or buyer. The Landlord gives at least Hours of notice before entry hours' notice, enters during business hours, and keeps disturbance to a minimum. In an emergency, the Landlord may enter without notice.
13. Tenant's break right
- The Tenant may end this lease on Tenant break date by giving the Landlord at least Break notice (months) months' written notice.
- The break takes effect only if the Tenant has paid the rent due up to the break date and gives back the Premises empty of people and goods.
- The Landlord repays any rent and service charge that the Tenant paid for the period after the break date.
14. Default
- The Landlord may end this lease by written notice if the rent is unpaid 21 days after the due date, or if the Tenant becomes insolvent.
- The Landlord may also end this lease if the Tenant seriously breaks it and does not fix the breach within 30 days after written notice.
- The Landlord recovers the Premises only by the process that the law of the place where the Premises are allows.
15. End of the lease
- At the end of the lease, the Tenant gives back the Premises clean, empty, and in the condition that this lease requires, and returns all keys.
- The Tenant removes its goods and signs, and any alterations that the Landlord reasonably asks it to remove, and repairs any damage that the removal causes.
- If the Tenant stays after the end without a new agreement, the Tenant pays one and a half times the daily rent for each extra day.
16. Notices
The parties send notices in writing to the addresses above, or to an email address that the other party gives in writing for notices.
17. General
This lease is the whole agreement between the parties. Any change must be in writing and signed by both parties. If one clause cannot be enforced, the other clauses still apply. The law of Governing law (country or state) governs this lease.
Signatures
Landlord name
Signature: ____________________________
Date: ______________
Tenant business name
Signature: ____________________________
Date: ______________