by Administrator
7. February 2011 09:58
A commercial lease is a document that states an agreement between two parties regarding the use of a space meant for commercial activities. It differs from a rental lease in significant ways in terms of the time period it is for and the clauses that are incorporated into it. You may feel the need to enter into such a lease in Killeen Texas if you are renting out your property to someone for commercial purposes or wish to take on a property on rent to run your own business. In such cases, you should be armed with the following basic information pertaining to formulating a commercial lease:
- Firstly, you need to know in what cases; the space in question needs a commercial lease. If the property is meant for running a business with the view to making profits, it will require a commercial lease to be given out on rent. Even if the area is meant for running a doctor’s office, it will qualify as a business activity under Texas law as the aim in such a case is profits in exchange for services that are being provided in the form of treatment.
- There are certain essentials that need to be present in every commercial rental lease. Without these factors, a commercial lease cannot be deemed as complete. They constitute some of the following:
- The rights to privacy for the tenant need to be specified. The landlord and tenants are required to come to a mutual agreement regarding the hours in which the owner of the property is allowed to visit such property.
- The safety and security issues pertaining to the tenants also need to be addressed by the landlord. The agreement must contain information regarding the course of action to be taken in case the tenants come to any harm due to construction faults of the building being leased out.
- There are certain regulations that need to be specified in the commercial lease that will be special for each case. These will largely depend on the kind of business that is being run on the premises.
We at John Reider Properties provide complete rental services including finding commercial properties for rent, negotiating with landlords, finalizing commercial and residential lease agreement etc. For more information, please call us at - 254.699.8300
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