7 Crucial Terms That a Lease Lawyer Includes In a Lease Agreement

A lease lawyer on request from one party makes an agreement that sets out rules that both parties (landlord and tenant) agree to follow during the lease period. This legal document which is signed by both parties is extremely practical and has crucial details like rent amount, lease period and many more.

For properties dealing with pure business, commercial property lawyers are contacted so that the whole process is done smoothly and the whole legal procedure is followed.

Generally the lawyers prepare the lease document including following terms:

• 1. Names of the tenants: The lease document would have name of the person who owns the business. If there is more than one owner, all the owners’ names should be included in the lease agreement.

  2. Limits on occupancy: The legal document will also state the reason for renting the premises. No other business should be run without the owner’s permission.

  3. Rent: The amount of rent that the tenant should pay is clearly stated in the lease. The last date by which the rent should be paid is also clearly mentioned.

  4. Deposit and fees: The amount that an owner takes as security deposit from the tenant is written on the agreement. The way in which the owner intends to return the amount at the end of lease is period is also discussed and penned into the lease.

  5. Repairs and maintenance: In case if the premise needs repair work or maintenance, the lease agreement will have the details.

  6. Restrictions on tenant illegal activity: The owners also mention it clearly what action they intend to take if they find any illegal activity happening in the commercial place.

  7. Terms of tenancy: The rental document should state if the agreement is rental or fixed-term lease. Rental agreement usually runs from month to month while lease goes for a specific period of time.

Most legal lease contains these terms, while others may include other agreements as discussed between the owner and tenant.

Original Source: https://commercialpropertylawyers.blogspot.com/2019/05/7-crucial-terms-that-lease-lawyer-includes-in-a-lease-agreement.html