A Commercial Lease / Tenancy Agreement is a contract to rent a premises for business or other commercial purposes. It is not appropriate for residential users.
A Commercial Lease / Tenancy Agreement protects the legal rights of both the landlord and the tenant by clearly stating the terms and conditions of the lease/tenancy, thereby reducing the chances of future disputes between the landlord and the tenant.
A Commercial Lease / Tenancy Agreement is signed on acceptance of an offer letter and payment of a holding deposit.
- Purpose of lease/tenancy;
- Duration of the lease/tenancy and whether it will automatically renew;
- Rent amount and payment schedule;
- Management charge details;
- Deposit details; and
- Details of premises.