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Business Lease (Commercial Lease)

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What kind of commercial property is being leased?

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COMMERCIAL LEASE AGREEMENT

THIS LEASE (this "Lease") dated this ________ day of ________________, ________

BETWEEN:

______________________ of _________________________________
Telephone: ______________________
(the "Landlord")

OF THE FIRST PART

- AND -

______________________ of _________________________________
Telephone: ______________________
(the "Tenant")

OF THE SECOND PART

IN CONSIDERATION OF the Landlord leasing certain premises to the Tenant, the Tenant leasing those premises from the Landlord and the mutual benefits and obligations set forth in this Lease, the receipt and sufficiency of which consideration is hereby acknowledged, the Parties to this Lease (the "Parties") agree as follows:

Definitions
When used in this Lease, the following expressions will have the meanings indicated:
1. "Additional Rent" means all amounts payable by the Tenant under this Lease except Base Rent, whether or not specifically designated as Additional Rent elsewhere in this Lease;
2. "Building" means all buildings, improvements, equipment, fixtures, property and facilities from time to time located at ______________________________, as from time to time altered, expanded or reduced by the Landlord in its sole discretion;
3. "Common Areas and Facilities" mean:
  1. those portions of the Building areas, buildings, improvements, facilities, utilities, equipment and installations in or forming part of the Building which from time to time are not designated or intended by the Landlord to be let to tenants of the Building including, without limitation, exterior weather walls, roofs, entrances and exits, parking areas, driveways, loading docks and area, storage, mechanical and electrical rooms, areas above and below leasable premises and not included within leasable premises, security and alarm equipment, grassed and landscaped areas, retaining walls and maintenance, cleaning and operating equipment serving the Building; and
  2. those lands, areas, buildings, improvements, facilities, utilities, equipment and installations which serve or are for the useful benefit of the Building, the tenants of the Building or the Landlord and those having business with them, whether or not located within, adjacent to or near the Building and which are designated from time to time by the Landlord as part of the Common Areas and Facilities;
4. "Leasable Area" means with respect to any rentable premises, the area expressed in square metres of all floor space including floor space of mezzanines, if any, determined, calculated and certified by the Landlord and measured from the exterior face of all exterior walls, doors and windows, including walls, doors and windows separating the rentable premises from enclosed Common Areas and Facilities, if any, and from the centre line of all interior walls separating the rentable premises from adjoining rentable premises. There will be no deduction or exclusion for any space occupied by or used for columns, ducts or other structural elements;
5. "Premises" means the office space at ______________________________;
6. "Rent" means the total of Base Rent and Additional Rent.
Intent of Lease
It is the intent of this Lease and agreed to by the Parties to this Lease that rent for this Lease will be on a gross rent basis meaning the Tenant will pay the Base Rent and any Additional Rent and the Landlord will be responsible for all other service charges related to the Premises and the operation of the Building save as specifically provided in this Lease to the contrary.
Leased Premises
The Landlord agrees to rent to the Tenant the office space municipally described as ______________________________ (the "Premises").

The Premises will be used for only the following permitted use (the "Permitted Use"):
____________________________________________________________________________________________________________________________________________________________________

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Commercial Lease Agreement Information

Alternate Names:

A Commercial Lease Agreement is also called a/an:

Business Lease
Commercial Real Estate Lease
Commercial Property Lease
Industrial Property Lease
Office Space Lease
Retail Lease

What is a Commercial Lease?

A Commercial Lease Agreement is a contract between a landlord and a tenant that outlines the terms of a commercial tenancy and the rights and responsibilities of the parties involved.

LawDepot's Commercial Lease Agreement is tailored to meet the governing laws in Australian states and territories, including:

Australian Capital Territory (ACT)
New South Wales (NSW)
Northern Territory (NT)
Queensland (QLD)
South Australia (SA)
Tasmania (TAS)
Victoria (VIC)
Western Australia (WA)

What is the difference between a Commercial and Residential Lease?

Unlike a Residential Lease that is used for personal housing, a Commercial Lease is used for business properties (such as office suites, retail stores, workshops, warehouses, scrapyards, etc.) where individuals or companies perform their business operations.

Different legislation applies to commercial and residential leases, so the government protection that tenants are entitled to may vary. You can consult your local laws to confirm your rights and obligations as a landlord or tenant in a Commercial Lease.

What are the different types of commercial properties?

A commercial property is a piece of land or a building that is used to generate a profit, typically by selling goods and/or services.

LawDepot provides a Commercial Lease Agreement customisable for commercial properties such as:

Industrial buildings: spaces related to manufacturing, such as factories and workshops
Office spaces: includes individual suites or entire office buildings
Retail stores: where goods or services are sold in a property (smaller shops may be protected by retail lease legislation)
Restaurants: where food and drinks are sold to customers
Warehouses: where goods are stored or sold at wholesale prices
Other properties: includes miscellaneous commercial real estate, such as a commercial kitchen or commissary

How long should a Commercial Lease be?

Though a typical Commercial Lease may last three to five years, the length of your Commercial Lease will often depend on factors like your current business situation, the location of the commercial property, and the cost of rent.

For example, a new startup may want to enter a short-term lease to avoid getting locked into a lease term they might not be able to afford, but an established business may want to enter a long-term lease to reap benefits like signing incentives (e.g. first month's rent free) or landlord concessions (e.g. the landlord pays the realtor broker's fee).

It's also important to note that in most Australian states and territories the tenant of a retail lease has the right to a minimum tenancy period of up to five years. To confirm lease requirements in your jurisdiction, you can consult your local small business board.

What terms and provisions are covered in a Commercial Lease?

The terms of a Commercial Lease can vary depending on the length of a tenancy, the type of commercial property, and the purpose for renting the space.

Generally, a Commercial Lease will cover terms such as:

The lease: A lease can end on a fixed date (a periodic tenancy) or continue indefinitely until one of the parties terminates the contract (an automatic renewal).
The rent: Rent can be charged at a fixed rate (a gross lease) or the tenant may have to pay additional costs (a net lease). Rent terms can specify how often rent must be paid, and whether or not there will be late payment charges or future rent increases.
Utilities and outgoings: The tenant may be required to pay directly for utilities or pay their share of the bill to the landlord. Outgoings (such as taxes, maintenance, or advertising services) may be passed on to the tenant or be covered by the landlord.
Building maintenance: Either the tenant or landlord may be responsible for maintaining the premises. You can also specify whether the tenant be allowed to make improvements to the property or not, and the kind of fixtures (items attached to the property, like lighting fixtures or plumbing) or chattel (moveable items, like tables and chairs) that will be included with the rented space.
Security deposit: Some landlords may require the tenant to pay a security deposit and to be present for property inspection reports.
Insurance: Either the tenant or the landlord can be held responsible for insuring the tenant’s contents, the landlord’s contents, the leased property, and personal injury on the property. Proof of insurance may be required.
Signing incentives: Landlords can provide incentives encouraging someone to sign the lease; for instance, the tenant could get a free month’s rent.