The Standard Commercial Lease Agreement serves as the foundational document for commercial property rentals in the United States. It is essential when a business or individual wants to lease commercial space for business purposes. This comprehensive document covers all aspects of the landlord-tenant relationship, including financial obligations, maintenance responsibilities, insurance requirements, and compliance with local regulations. The agreement must conform to federal laws such as the Americans with Disabilities Act, as well as applicable state and local regulations governing commercial properties.
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1. Parties: Identifies and defines the Landlord and Tenant with full legal names and addresses
2. Background: Brief context about the property and purpose of the lease
3. Definitions: Key terms used throughout the agreement
4. Premises: Detailed description of the leased property including address and square footage
5. Term: Duration of lease, commencement date, and termination date
6. Rent and Other Payments: Base rent, payment schedule, late fees, and other charges
7. Security Deposit: Amount, terms, and conditions for return
8. Use of Premises: Permitted uses and restrictions
9. Maintenance and Repairs: Responsibilities of both parties
10. Insurance Requirements: Required coverage for both parties
11. Default and Remedies: Events of default and available remedies
1. Option to Renew: Terms for lease renewal when parties want to include possibility of extending the lease
2. Tenant Improvements: Terms for modifications to the premises when tenant will make modifications to the space
3. Subletting and Assignment: Rights and restrictions regarding subletting when parties want to address possibility of subletting
4. Early Termination: Conditions for early lease termination when parties want flexibility to end lease early
1. Floor Plan: Detailed layout of the premises
2. Rules and Regulations: Building or property specific rules
3. Operating Expenses: Breakdown of additional costs and calculations
4. Building Services: Details of services provided by landlord
5. Tenant Improvement Work Letter: Specifications for allowed improvements
6. Environmental Reports: Any relevant environmental assessments
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