Commercial Lease Template: Term, Renewal, Maintenance, Utilities
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If you need to rent a property or building for business purposes, you’ll need to draft a commercial lease. This agreement outlines important aspects of the relationship between the lessor and tenant, such as repairs and maintenance, insurance, and deposits.
On ContractsCounsel, an online legal network connecting lawyers and clients, you can purchase a commercial lease template that’s drafted by a lawyer on the platform. It’s clear, comprehensive, and legal.
In this article, we feature important things to know about this commercial lease template, what’s included in it, how to fill it out, and why you should purchase it from ContractsCounsel.
What Does a Commercial Lease Template Contain?
This commercial lease template covers important aspects, such as the following:
Term and Rent
The template contains information about how many years the rental property can be used by the tenant, including start and end dates. It also includes the amount payable per month.
Option to Renew
This outlines the process for the tenant to renew the lease and how this influences the monthly rental amount. The tenant needs to give the owner a specific amount of days’ written notice, or this option will lapse.
Use
The tenant needs to specify why they are using the rental property, such as for running a hair salon. This prevents the space from being used for other reasons.
Maintenance
It’s the tenant’s responsibility to maintain the property and complete required repairs, but there are important exceptions both parties need to know about. For example, the lessor is responsible for the roof, structural foundation, and exterior walls.
Trade Fixtures
All equipment and trade fixtures on the property are the lessor’s property, so they can’t be removed by the tenant.
Utilities
Since the tenant is using the commercial property, they will be responsible for all utility services. Their name will be on all applications and connections for these services to be established.
Remedies on Default
Should the tenant default on rent payments, they will receive a notice to rectify it within a certain amount of days. If they do not fulfill this, the lessor has the right to terminate the lease. If they choose this option, the lessor has the right to claim unpaid rent and/or other compensation from the tenant.
How to Fill out a Commercial Lease Template
You can easily complete the commercial lease template in seven steps.
- Step 1: Insert the names and addresses of both parties. Step 2: Write the start and end dates for the lease agreement, its duration (in years), and the annual rental amount.
- Step 3: For lease renewal, specify for how many months this will take effect, the monthly rental amount, and how many days’ written notice should be given before the lease term expires. Step 4: Write a short description of what the commercial property will be used for.
- Step 5: Write the minimum insurance coverage the tenant will maintain.
- Step 6: Select the amount of days the tenant has to remedy any defaults, such as by paying late rent.
- Step 7: For the security deposit, insert the amount that will be paid by the tenant.
Why You Should Purchase a Commercial Lease Template from ContractsCounsel
ContractCounsel’s commercial lease template is clear, legally sound, and contains important terms to govern the working relationship between lessor and tenant.
Here are some benefits to purchasing it:
- It’s downloadable. You don’t have to wait to receive the lease template in the mail. After purchasing it from ContractsCounsel’s website, you’ll receive a link to download the template to your device.
- It’s editable. You can make changes to the template so that it suits your requirements.
- It’s drafted by a vetted lawyer. A professional, experienced lawyer has drafted the lease template so that it’s clear, fair, and legal.
- It can include a consultation. If you have any queries, you can consult with the lawyer who drafted the template.
Do you need a commercial lease template?
Go to ContractsCounsel commercial lease template page. Click ‘buy template.’ You’ll be directed to a payment page and receive a link to download the template.
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ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.
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Meet some of our Commercial Lease Template Lawyers
Jared F.
Jared Fields is an experienced business lawyer and litigator with experience in diverse industries and practice areas. Prior to launching his own practice, he served as the chief legal officer for a group of privately-owned companies, including a real estate development group, construction companies, multiple franchisees, and a professional soccer team. As a result, he is experienced in real estate transactions, commercial agreements of varying degrees of sophistication, employment matters, and litigation, as well as general business legal advice. He was also an in-house attorney for a renewable energy company, where he was responsible for litigation, investigations, enforcement actions, and related securities filing disclosures. Mr. Fields also spent many years as a litigator in private practice, representing clients in matters ranging from securities litigation, to breach of contract, to cases involving real estate and financial services. Mr. Fields has particular experience in legal matters that may involve complex financial, accounting, valuation, and other quantitative issues.
"It has been such a refreshing experience working with Jared. Highly Recommended!"
Sunnita B.
Experienced sports and entertainment attorney. I specialize in contracts, business formation, licensing, wage disputes, negotiations, and intellectual property.
"Sunnita was very prompt with clear revisions showing what needed to be updated and explaining why. Also, she made sure my documents weren't generalized, but fit Georgia's laws and are specific enough to hold up in court. All of my questions were answered and she stayed in communication with the message feature. I really appreciated that she didn't try to overcharge me for her service. I'll use her for my projects going forward, great experience."
David L.
Experienced real estate, business, and tax practitioner, representing start up and established businesses with formation, contracts, and operational issues.
"Great detailed explanation highly recommend if you're a first time seller who wants a in depth conversation"
Shelia H.
Shelia A. Huggins is a 20-year North Carolina licensed attorney, focusing primarily on business, contracts, arts and entertainment, social media, and internet law. She previously served on the Board of Visitors for the North Carolina Central University School of Business and the Board of Advisors for the Alamance Community College Small Business Center. Ms. Huggins has taught Business and Entertainment Law at North Carolina Central University’s law school and lectured on topics such as business formation, partnerships, independent contractor agreements, social media law, and employment law at workshops across the state. You can learn more about me here: www.sheliahugginslaw.com www.instagram.com/mslegalista www.youtube.com/mslegalista www.facebook.com/sheliahuugginslaw
"I am very grateful for Ms. Huggins unwavering support through my ordeal. Ms. Huggins' showed a deep understanding of my personal situation and demonstrated empathy throughout the legal process. This helped me a great deal to get through this difficult time. I highly recommend this law firm."
Jeff G.
Jeff has 25 years of commercial transactional experience within numerous industries, including finance/banking, telecommunications/utilities, insurance, and software. He is a recognized authority on contracts, software licensing and negotiation. Jeff earned his Juris Doctorate from Valparaiso University School of Law and his Masters in Business Administration from North Carolina State University and is licensed to practice law in North Carolina and Indiana.
"Jeff worked quickly and answered all questions. Would highly recommend"
Kenneth G.
Kenneth E. Gray, Jr. is a business and tax attorney who advises entrepreneurs, investors, and closely held companies on transactions, tax planning, disputes, and long-term wealth structuring. He focuses on helping clients make legally sound decisions that also make business sense. Ken’s practice includes business formation and restructuring, mergers and acquisitions, private investments and fundraising transactions, contract drafting and negotiation, and cross-border matters. He also maintains a significant tax practice, advising on federal and state structuring, specialty filings (including partnership, corporate, and non-resident matters), and representing clients in disputes before the U.S. Tax Court and other federal and state tribunals. In addition to his transactional work, Ken handles commercial and business litigation, including tax controversies, financial disputes, and partnership matters. His litigation experience informs how he structures deals and governance documents, with an eye toward preventing disputes before they arise. Ken also advises individuals and families on estate planning, trust formation, tax-efficient wealth transfer strategies, and probate administration, including planning involving closely held businesses and foreign assets. Before practicing law, Ken worked in banking and private equity, including managing a $5 billion emerging markets fund-of-funds portfolio at the U.S. Overseas Private Investment Corporation (OPIC) and serving in equity research at ABN AMRO. That financial background allows him to understand transactions from both the legal and capital perspective. He holds a J.D. from Georgetown University Law Center and an MBA from Yale University. He practices before the U.S. Tax Court, various state courts, and other federal courts.
"It is not easy to find a lawyer that knows Offshore Asset Protection Trusts, which own a foreign LLC, which owns a USA LLC. Fines could reach $100K if the tax forms are incorrect, or not filed. He was able to review my draft returns and provide memos with required changes (many, many changes), after 1 follow-up everything was basically done other than a few tiny edits. I really appreciated how he worked me in, right in the busiest time of tax season, to ensure there were no errors. Would definitely hire again."
Jana B.
I am a Silicon Valley tech lawyer with over 13 years of in-house experience and additional years in BigLaw. I provide tech licensing, data privacy, employment, international expansion, go to market, and other corporate and commercial legal services to clients in software, SaaS, bio-tech, cryptocurrency, financing, and construction business. I currently run my own practice concentrating on transactional, commercial, corporate or employment matters. Prior to starting my own practice, I joined as the first in-house counsel to lead the global legal strategy to bring tech products to market, increase revenue, decrease exposure to risk, and raise venture funding for HashiCorp Inc., currently an unicorn technology company with evaluation over $5 billion and venture funding over $350 million; Sysdig Inc., a technology company with venture funding of $195 million; and Anaplan Inc., currently a publicly traded company on the US Stock Market. Furthermore, I acted as in-house counsel advising leading technology enterprise companies such as HP, VMware, and Genentech and currently act as member of strategic advisory boards to several technology companies located globally
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Review a commercial lease created by my General Contractor
"Great experience, Lori's response was quick, even on a weekend, and job completed. I added the advice and project done. Thank you."
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"Great communcaite and short turnaround time"
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"DC has been great to work with. He provided a thorough review of a commercial lease, along with detailed redlines and guidance."
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"Will did a great job of reviewing our commercial lease and explaining the legal implications in a clear way. We hope to work with him again in the future."
Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.
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Restaurant lease review
Location: New Jersey
Turnaround: Less than a week
Service: Contract Review
Doc Type: Commercial Lease
Page Count: 3
Number of Bids: 2
Bid Range: $1,000 - $1,200
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