A lease agreement can be defined as a contract between a landlord (lessor) and a tenant (lessee) that indicates how long a tenant is allowed to stay with prevailing terms and conditions that are legally binding and how much rent should be paid every month for the duration of the lease. It’s important for both lessor and lessee to come to terms with the contract should legal complications arise over the course of the leasing period.
Our Sample Agreements for a leasing contract can be used by lessors and can be made as reference by lessees just before both can come to terms with the agreement. It’s intended for both parties to be able to understand how a lease agreement is usually crafted. These are all free for downloading and available in both Word Doc and PDF files.
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Commercial Lease Agreement
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The common format of a lease agreement usually outlines the responsibilities and obligations of both the landlord and the tenant. While the usual outlines and terms are indicated on the agreement, it’s important to note that tenants actually have the right to question any provisions on the agreement. Depending on how both parties can come to terms with a compromise, a lease agreement’s terms and conditions can be altered prior to being signed. However, once the agreement is signed, it becomes a legal and binding contract. The agreement therefore governs what both the landlord and tenant can and cannot do.
A lease agreement can also be used against all the tenants should there be more than one tenant. It’s very important for all of the tenants to have a copy or at least know their rights under the agreement should there be any legal proceedings that may arise due to a disagreement or misunderstanding between the two parties. For this matter, both parties should understand that a lease agreement is intended to protect both landlord and tenant and not a one-sided document. Most people think that lease agreements, and any other written agreements for that matter, are contractual traps that should make people wary of signing them without reading them in details.
Readers can also check out our Free Lease Agreement Forms and Generic Lease Agreements for those who need a generalized outline of lease agreements that can be used immediately with little modifications or minimal editing. These are all free to download and can be printed based on either Word Doc or PDF file formats.
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Tenants should also be aware that most lease agreements are long-term in nature, with the shortest being from a year, to the longest that can last up to 20 years. Any violations of these terms may make tenants liable to pay fines and other penalties. In this case, it’s very important for tenants to determine exactly how long he intends to stay on the property. Depending on a tenant’s line of business and how strategically important the property is to his business, he may opt to agree to a longer leasing period. If, however, a tenant thinks it’s detrimental for his capacity to finance a longer stay, then it’s likely better that he will negotiate for rent at a shorter period than a lease that could eventually cost more financially.
Readers can also click on the link if they need Lease Termination Agreements. These also come with varying examples that you can use as reference. These are all free to download and are printable for ease of use.
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