COMMERCIAL PROPERTY RENTAL AGREEMENT

COMMERCIAL PROPERTY RENTAL AGREEMENT

This agreement (“Agreement”) is between {Name}, henceforth known as “Landlord,” and {Name}, henceforth known as “Renter,” and is executed this {date} day of {month}, {year}.

Both parties agree that Renter will rent the property at {address}, henceforth known as “Property,” for the period beginning the date listed above, and ending {end date of rental agreement}.

Both parties further agree to the following provisions:

SECTION 1

DEPOSIT

Renter agrees to pay Landlord a security deposit of {amount in dollars}, due upon the signing of this Agreement. Deposit will be refundable, in whole or in part, assuming {details of what conditions apply for a refundable deposit}, when this Agreement expires.

SECTION 2

RENT

Renter agrees to pay Landlord rent in the amount of {amount in dollars} every month on or by the {date}, until this Agreement expires. Payment method must be {check, money order, wire transfer, etc.}. Payments made more than {number} days late are subject to a {amount in dollars} late fee. If Renter is more than {number} days late {twice, three times, etc.}, Landlord has the right to find Renter in default of this Agreement, and may retain any deposit in full.

SECTION 3

INSURANCE

Renter and Landlord each agree to hold an insurance policy on the Property in the amount of {amount in dollars}. Renter’s policy must cover {his/her/its} personal items inside the property, while Landlord’s policy must cover the physical location itself, as well as any personal property located within.

SECTION 4

UTILITIES

All utilities, including, but not limited to, water, power, gas, sewage, cable, and telephone, are the responsibility of {Landlord/Renter}.

SECTION 5

ALTERATIONS AND IMPROVEMENTS

Renter will be allowed to make alterations and improvements to the Property upon the signing of this Agreement, provided that Landlord has approved the alterations and improvements. All alterations and improvements will be done at Renter’s expense, and Renter is required to procure any insurance necessary for the alteration process, as well as for any personal property involved in or created by the process. Renter {shall/shall not} be required to return Property to its original condition upon the expiration of this Agreement.

SECTION 6

REPAIRS

Any repairs necessary to make Property inhabitable, according to the laws of {State}, by Renter shall be the Landlord’s responsibility. Repairs resulting from Renter’s use of Property, including any damage incurred during move-in or remodel, shall by the responsibility of the Renter.

SECTION 7

SUBLETTING

Renter {will/will not} be permitted to sublet the Property. {If Renter is allowed, add the conditions under which Renter may sublet}.

SECTION 8

ILLEGAL ACTIVITY

Renter agrees to abide by the laws of {State}, and refrain from conducting any illegal business and/or activity at the Property. Should illegal activity be discovered, Landlord reserves the right to terminate this Agreement and retain any deposit in full.

SECTION 9

TAXES

Property taxes on the building and/or any land associated with the Property shall be the responsibility of the Landlord. Renter is responsible for any applicable taxes on {his/her/its} personal property, including, but not limited to, fixtures, equipment, goods, etc.

SECTION 10

TERMINATION OF AGREEMENT

Landlord may terminate this Agreement early for reasons other than those listed in Section 2 and Section 5 if {reasons why Landlord may end the Agreement}. Renter may terminate this Agreement if {reasons, if any, why Renter may end the Agreement}.

SECTION 11

AGREEMENT RENEWAL

Renter may renew this Agreement {yearly, every two years, etc.} by providing a request, in writing, to the Landlord at least {30 days, 60 days, 90 days, etc.} prior to the expiration of the current Agreement. Landlord reserves the right to refuse a renewal, provided he gives Renter {60 days, 90 days, etc.} notice.

Signed:

__________________________

Renter Printed Name

__________________________

Renter Signature

__________________________

Landlord Printed Name

__________________________

Landlord Signature