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District of Columbia Commercial Lease

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The District of Columbia commercial lease documents a specific rental agreement between the tenant of a property and its landlord for business purposes. The lease agreement is a legally binding contract that outlines all the terms and conditions of the lease and is signed by both parties.

The landlord may ask for current profit and loss statements and past tax returns from the tenant who shows interest in the commercial property. These statements help determine whether the business is credible and the revenue it may generate in the future. The landlord may also seek a personal guarantee from the tenant when signing the District of Columbia commercial lease.

Key Terms Related to District of Columbia Commercial Lease

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Contract agreements like the District of Columbia commercial lease may be more complicated than residential leases because of flexible terms and conditions. That is why both parties must understand the key terms related to the lease before signing it.

  • Premises: It includes the specific property, the street address, or the proposed area for rent.
  • Use of Premises and Exclusivity: It explains how you’ll use the commercial property (depends upon the landlord). Exclusivity applies if the landlord assures a tenant that they won’t rent to your competition.
  • Commencement Date: It is the specified date when the parties agreed to enter the lease.
  • Term: It is the length of the lease tenure decided between both parties.
  • Rent: It is decided on an annual basis that depends on the area of the premises.
  • Security Deposit: It includes the 'letter of credit' you have assured in case you failed to pay the rent.
  • Improvements: It specifies the changes that need to be made to the space, the responsible person, and how they are paid for.

Conclusion

The District of Columbia commercial lease lasts longer than residential leases, and the tenure ranges between five to ten years. However, it is advisable to seek legal assistance to review the lease provisions. Visit ContractsCounsel and consult a professional attorney right away for all your lease agreement issues!

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Andrew F. on ContractsCounsel
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5.0 (2)
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July 5, 2023

Andrew F.

Attorney
Free Consultation
Washington D.C.
4 Yrs Experience
Licensed in DC
Samford, Cumberland School of Law

Andrew Friedman: Your Trusted Legal Advisor Andrew Friedman is a highly accomplished attorney based in Washington D.C. With extensive experience in strategy and policy consulting, financial regulatory operations, and business development, Andrew provides exceptional legal services to individuals and leading organizations. His expertise spans contract negotiation, policy formulation, compliance, and risk management. With a keen eye for detail and a strategic mindset, Andrew excels at finding effective solutions to complex legal issues. Trust in his professionalism and commitment to excellence for all your legal needs. Contact Andrew Friedman today for personalized legal counsel that delivers results.

Sara S. on ContractsCounsel
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4.9 (67)
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July 14, 2023

Sara S.

Attorney
Free Consultation
Washington, D.C.
4 Yrs Experience
Licensed in DC, MD
American University Washington College of Law

With over ten years of intellectual property experience, I’m happy to work on your contractual matter. I am very diligent and enjoy meeting tight deadlines. Drafting memoranda, business transactional documents, termination notices, cease and desist letters, licenses and letter agreements are all in my wheelhouse! Working in a variety of fields, from construction to pharmaceutical, I enjoy resolving any disputes that come across my desk.

zurick s. on ContractsCounsel
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July 5, 2023

zurick s.

Attorney & Principal
Free Consultation
Washington, D.C., DC, United States
18 Yrs Experience
Licensed in DC
Texas Southern University at Thurgood Marshall School of Law

Zurick T. Smith is the founding member of The Law Office of Zurick T. Smith, PLLC. His firm services DC residents with Trusts & Estate Planning, simple to complex employment and business matters as well as business formations.

John W. on ContractsCounsel
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July 23, 2023

John W.

Strategic Business Partner
Free Consultation
Brookline, MA
38 Yrs Experience
Licensed in DC, MD, VA
Georgetown University Law Center

I am a business lawyer with 30+ years of experience, with a specialization in the life sciences industry. I have been general counsel at 5 different companies - both large and growing, as well as small and emerging. I have built legal teams and have extensive experience with Boards of Directors.

Marykaren R. on ContractsCounsel
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Marykaren R.

Privacy and Data Protection Counsel
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Boulder, CO, USA
6 Yrs Experience
Licensed in DC
University of Wyoming College of Law

I provide legal advice and guidance on complex privacy laws and regulations including: Privacy Policies, incident response & state data breach notification laws, privacy risk and risk assessments, PIAs/DPIAs, contracts, and policies and procedures to help build consumer trust and ensure compliance. I am successful by encouraging collaboration with stakeholders to ensure a successful and sustainable program.

Diamond R. on ContractsCounsel
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July 30, 2023

Diamond R.

Attorney
Free Consultation
Houston, Texas
1 Yr Experience
Licensed in DC, NY, WA
Wayne State University

July 29, 2023 My name is Diamond Simpson Roberts, ESQ, MSPH and I am convinced that I can be a value added asset to most any company. As the first in my family to graduate a four-year university, I graduated from Wayne State University Law School in 2000 but could not afford a bar prep course upon completion. After over 20 years, I sat for the July 2022 UBE, successfully passed and am currently licensed in three states! This is an example of my self-motivation, internal drive and passion. I offer over 28 years of diverse experience in healthcare, strategy, sales/marketing, legal/policy and business savvy. I have many years building, leveraging, and sustaining long term relations to drive revenue as an entrepreneur and for corporations. My analytical strengths provide me with an innate ability to think through tough situations/topics while viewing both vantage points (which is excellent for law and life). I have been appointed to serve on numerous committees due to my heightened ability to identify client issues and priorities and provide solutions based upon relevant products, services and needs. I have led teams with and without authority; specifically, I have managed teams for an Adult Foster Care Facility called Etonne Cares, during my post-graduate fellowship with the largest Catholic Healthcare System in the U.S. and during my two-year executive order appointment with the Federal Government (Presidential Management Fellowship). Most importantly, I am a collaborative team player who knows how to improvise, overcome and adapt! I offer numerous years of being a pharmaceutical trainer and being an adjunct using the online platform. I welcome the opportunity to continue in the interview so that I may further highlight the skills I can (and will) contribute to my success in the role. Respectfully, Diamond Simpson Roberts, ESQ, MSPH DQSSIMPSON@GMAIL.COM M: 313-942-6747

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Commercial Real Estate

Commercial Lease

North Carolina

Asked on Apr 26, 2023

How is the rent determined in a commercial lease agreement?

I am a small business owner looking to rent a space for my business. I am currently in negotiations with the landlord of a commercial property and we are discussing the terms of the lease agreement. We have reached a point where we need to discuss the rent and how it will be determined. I need to understand more about how rent is determined in commercial leases so that I can negotiate a fair and reasonable agreement.

N'kia N.

Answered May 19, 2023

In North Carolina, commercial rent is commonly calculated as a set dollar amount per square foot. This dollar amount is usually based on factors like location, age, condition, accessibility, and amenities. However, there is no requirement for rent to be determined this way. Unlike a residential lease agreement, the terms of a commercial lease agreement can be almost anything that the parties mutually agree to. As a word of caution, in North Carolina, commercial tenants do not have the same degree of legal protections as residential tenants. For just one example, a tenant who wishes to terminate a commercial lease early may be responsible for the entire remainder of the rent unless the lease agreement says otherwise.

Read 1 attorney answer>

Real Estate

Commercial Lease

Florida

Asked on Apr 17, 2023

What's the parking situation in a commercial lease?

I am currently in the process of signing a commercial lease for a retail store and I need to know the parking situation that is included in the lease. I have read through the lease and I'm not sure if the parking is included or if I have to arrange it myself. I need to know if I will be able to provide adequate parking for my customers and employees.

Diane D.

Answered Apr 18, 2023

The only way to answer this question is to have an attorney read the lease.

Read 1 attorney answer>

Commercial Real Estate

Commercial Lease

Maryland

Asked on Apr 27, 2023

What are the notice requirements for terminating the lease?

I am a business owner who recently signed a commercial lease for a property. I am looking to terminate the lease but am unsure of the notice requirements I must adhere to in order to do so. I would like to know what the notice requirements are for terminating the lease so that I can ensure I do not breach the terms of the lease.

Michael C.

Answered Jun 1, 2023

The notice requirements for terminating a commercial lease in Maryland are going to vary depending on the specific terms of your lease agreement. Please read and refer to your lease. If your lease is month to month, then it's likely you'll have to provide at least 30 days notice. If your lease is for a longer term (6 to 12 months), it's likely you'll have to provide at least 90 days notice, and may need to pay damages for breach of the lease agreement.

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Real Estate

Commercial Lease

Texas

Asked on May 12, 2021

What is a triple net lease?

I want to understand these better.

George O.

Answered May 12, 2021

A triple net lease designates the tenant (lessee) as having the sole responsibility for any and all costs associated to the asset being leased in the agreement, with those costs being the net real estate taxes on the leased asset, net building insurance, and net common area maintenance. The lease received its name from the three “net” fees and may also be called a Net-Net-Net Lease.

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Commercial Real Estate

Commercial Lease

Massachusetts

Asked on Apr 17, 2023

Can the tenant assign the lease to another business?

I am a business owner who recently signed a commercial lease for a retail space. I was recently approached by another business who is interested in taking over my lease, and I am wondering if I am able to assign the lease to them. I am looking to understand the legal implications of assigning the lease, as well as any other requirements or restrictions I should be aware of.

Joseph M.

Answered May 12, 2023

In Massachusetts, a commercial tenant can assign or sublet the unit to a third party - UNLESS there is a specific prohibition in the current lease. However, even if there is such a prohibition, it might still be worth speaking to the landlord about since it might be mutually beneficial.

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