WHAT ARE THE TYPES OF COMMERCIAL LEASES?

The different types of commercial leases are:

  • Net Lease
  • Double Net lease
  • Triple Net lease
  • Percentage lease
  • Fully-services lease

WHAT ARE THE IMPORTANT TERMS IN A COMMERCIAL LEASE AGREEMENT?

The important terms are:

  1. Defined parties
  2. Security deposit
  3. Property use and occupancy details
  4. Lease term
  5. Base rent
  6. Waivers
  7. Dispute resolution

WHAT ARE THE BENEFITS OF COMMERCIAL RENTAL AGREEMENT?

The benefits are as follows:

  1. Immediate effect
  2. Legal security
  3. Liquidity
  4. Suitability
  5. Promotes occupational relationship

WHAT ARE THE FEW MANDATORY DOCUMENTS REQUIRED?

The mandatory documents required are:

  • Government ID proof and passport photographs
  • Original passport (if not Indian)
  • Evidence of nature of business to be conducted
  • Proof of ownership of landlord’s property
  • Rental agreement to be drafted on stamp paper for registration
  • Power of Attorney if another person is acting on behalf

Any form of commercial lease agreement is a legal agreement, which is crucial for the survival of a business. The agreement should be carefully drafted, defining the rights and obligations of the parties with the help of real estate attorneys.

If you are looking for the best legal services and need help with drafting any commercial lease agreement or commercial rental agreement like Shop Rent Agreement, Commercial Property Rental Agreement, Business Lease Agreement, Commercial Tenancy Agreement, etc. you can reach out to us on bestlegalservices.in.