Minnesota Commercial Lease: Types, Key Terms To Know, Costs
Quick Facts — Commercial Lease Lawyers
- Avg cost to draft a Commercial Lease: $910.00
- Avg cost to review a Commercial Lease: $700.00
- Lawyers available: 267 real estate lawyers
- Clients helped: 536 recent commercial lease projects
- Avg lawyer rating: 4.97 (91 reviews)
The Minnesota commercial lease is a legal contract a business entity uses to rent industrial, retail, or office space. The commercial lease document establishes a formal relationship between a landlord and a business tenant by outlining specific terms and conditions for renting a particular property.
The best part about the Minnesota commercial lease is that it has a long term and is more flexible than a residential lease. The contract also includes additional information, such as the rent amount, lease duration, subleasing, security deposit, lease renewal, etc.
Disclosures Required for Minnesota Commercial Lease
- Lead-based Paint: The landlord must disclose the use of lead-based paint (if any) in their property to the tenants.
- Foreclosure: If the particular commercial property is being foreclosed, then it must be disclosed to the tenant.
- Outstanding Inspection Order: As per Minnesota code § 504B.195 Statutes, any outstanding inspection order on the commercial property based on an infraction needs to be disclosed to the tenant.
Key Terms Related to Minnesota Commercial Lease
The business tenants and commercial landlords or owners must understand a few terms related to the commercial lease before signing it.
Here is a list of key terms related to the Minnesota commercial lease:
- Effective Date: It is the date an agreement or transaction takes effect or becomes enforceable.
- Lessee: An individual with a legal agreement allowing the use of an area or a building.
- Parties: The owner and the tenant who agree to sign a legal contract.
- Premises: A land or building owned by a specific party.
Conclusion
Due to the complexity of a commercial lease agreement, it is recommended that parties seek a legal professional review of the contract before they sign it. If you are looking for similar assistance in drafting a commercial lease agreement, visit ContractsCounsel and get the best legal advice regarding business property rentals in no time! Compare multiple free proposals from vetted lawyers and save 60% less than traditional law firms - start your job proposal here.
Frequently Asked Questions
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Meet some of our Minnesota Commercial Lease Lawyers
Emmanuel A.
Results-driven young lawyer with over 2 years of combined legal experience. Adept at legal research, contract drafting, reviewing policies, client relations, and case management. Possess a J.D. from Elon Law School and am a member of the Minnesota State Bar in good standing.
"Emmanuel is fantastic and very easy to work with! We are so pleased with his quality of work, responsiveness, and attention to detail, and look forward to working with him again on future projects."
Harry N.
Experienced business advisor and in-house counsel with extensive litigation experience, representing parties in a variety of complex commercial disputes, including securities, financial fraud, contract, and antitrust litigation.
"Great job. Made it clear what my options were and my position in negotiations were."
Heather B.
Heather B.
Delivering proactive and strategic guidance to health and fitness professionals and entities as they scale.
"Heather provided an excellent review of this document. She had great communication and was prompt with her work. She did an excellent review and found multiple areas to strengthen this document. Heather is fantastic!"
Misi A.
As a Senior Legal Professional, I have 16+ years experience with extensive background in commercial transactions and as a corporate generalist. I am well versed in contracts lifecycle, risk assessment, compliance, and healthcare regulations. My competencies extend to contract management and detailed project management skills. I have leveraged my legal contracts expertise to mitigate organizational risk, reduce costs, and drive multi-million-dollar revenue increases.
March 19, 2024
Nichole M.
Ms. Melton-Mitchell is a seasoned executive that has obtained a law degree and is practicing law as a second career. She has spent over 25 years in the health care industry and is well versed in health law, contract law, financial law, trusts and estates, M&A and other types of transactional law. She maintains evening and weekend hours to allow clients flexibility in connecting with her around their schedule.
Song L.
In her professional life, Song Lo brings in a depth experience as general counsel to various companies and organizations in business and the real estate arena. Over the last 26 years, she has advised both companies and individuals in the areas of corporate investments, real estate development and contracts across multiple markets.Song has extensive experience in understanding how the law impacts companies wherever they might be in their age and stage. Important to investor and entrepreneur efforts, she has advised in the acquisition and transfer of shareholder stocks and assisted in the restructuring of private companies. Her specific areas of expertise are in corporate organization, mergers and acquisitions, employment, investments and real estate development. Specifically in real estate, Song participated in all aspects of development including pre-development and successfully gaining entitlements necessary for residential, senior housing and commercial projects. She holds experience both as legal counsel and as co-developer of real estate development projects. She was an owner and developer of senior cooperatives in Minnesota, with the LifeStyle Communities Group, promoting innovation and active living for all seniors. And, she brings all of this experience to the table at Raven Enterprise Group and RJP Development to enhance and support its services to consult and develop meaningful real estate development projects.
April 21, 2024
Jocelyn W.
Jocelyn A. Walters-Hird focuses her practice on conservation law and other real estate matters. She has provided counsel on dozens of conservation easement transactions as well as fee sales and acquisitions, including the structuring, negotiating, and closing of such projects. Prior to joining the conservation community, Jocelyn worked as a litigator, which has informed her approach to drafting workable documents and resolving post-transaction issues. With both in-house counsel and private practice experience, Jocelyn has a unique skillset allowing her to problem solve and provide sound legal advice to land trusts, landowners, and other organizations. She is the former Sr. Staff Attorney at the Minnesota Land Trust, where she led the legal team of the state’s largest non-profit land trust. She also worked as Attorney for Conservation Partners, LLP, a nationally-recognized boutique law firm that has assisted land trusts and landowners in protecting hundreds of thousands of acres of land. Jocelyn now serves as Contracted Counsel for the firm.
Find the best lawyer for your project
Browse Lawyers NowLawyer Reviews for Minnesota Commercial Lease Projects
Flat-Fee Review of Commercial Lease Amendment (Tenant Side)
"I like working with Scott M. He's very thorough and respond back quickly."
Review Commercial Lease for a Boutique Fitness Studio
"Zachary was amazingly quick with my review, and although he was very communicative, his comments were so clear and thorough that I didn't require a follow-up discussion. Also, the contracting party accepted his recommendations with no pushback. Thanks!"
Pre-Suit Response to Commercial Lease Demand in Texas
"Very pleased to work with his team."
Review of 30-Page Commercial Lease in California
"Best experience I've had working with a lawyer. Quick and thorough. I will definitely use Alex and his team again."
Review Florida Self Storage Lease and Lien Procedures with Redlines
"Amazing to work with, answered all my follow-up questions without hesitation. Highly recommend Michael."
Commercial Real Estate
Commercial Lease
Maryland
Can the tenant make changes to the property's signage?
I am looking to rent a commercial property for my business and have recently come across a potential property. The lease agreement states that the tenant is not allowed to make any changes to the property's signage. I am interested in understanding if there are any exceptions to this rule and if the tenant can make changes to the signage.
Michael C.
Standard commercial lease template includes language about the nature and extent of modifications tenants can make to a property. In this instance, there's no legal or regulatory exception that is going to protect you from a restriction in the lease. Your best bet is to negotiate directly with the landlord for a modification to the lease terms.
Contracts
Commercial Lease
New York
What's the entire agreement clause in a commercial lease?
I am a small business owner who recently signed a commercial lease for my business premises. I am concerned about the “entire agreement” clause in the lease, as I am not sure what it covers and what the implications are for me and my business. I am looking for clarification on the clause and any potential risks associated with it.
Matthew S.
This is a contractual provision which aims to prevent the party relying on it from being liable for any statements or representations (including pre-contractual representations) except as expressly set out in the agreement. It generally precludes the introduction of parol evidence or evidences of other agreements that are not in writing.
Real Estate
Commercial Lease
Florida
What's the force majeure clause in a commercial lease?
I am a small business owner who is in the process of signing a commercial lease for my business. I am concerned about the implications of force majeure clauses in the lease and would like to understand them better. I have read through the clause, but am not sure if it covers all of the situations that may arise and if there are any additional considerations that I need to take into account. I would like to understand the full implications of the clause and any additional steps I should take to protect myself.
Moss S.
Force majeure is a provision that usually allows either party to delay completing an obligation in a lease. Force majeure is described as an act that is beyond the control of either party, such as a natural disaster, terrorism, or pandemic.
Real Estate
Commercial Lease
Ohio
Can a landlord terminate a commercial lease early?
I have been running a small retail business for the past two years in a commercial space rented under a 5-year lease agreement. However, due to unforeseen financial difficulties, my business is struggling to stay afloat and I may need to close down. I have heard rumors that my landlord has the right to terminate the lease early, and I want to know if this is true and what my options are in such a situation.
Michelle M.
The answer to your question is contained in the lease. All rights and obligations of parties to a commercial lease are controlled by and provided for within the lease. If your lease provides for early termination by the landlord, then the landlord can exercise that option. If it doesn't provide for early termination and you are in compliance with the lease, then they can't terminate early (at least not without your consent). You should retain a local attorney who can review the lease and provide advice concerning your specific situation. Best of luck!
Real Estate
Commercial Lease
Texas
Should I use a lawyer for commercial lease?
It is a very long lease and I'm not sure what it says. I also don't want to pay a fortune to have it reviewed to eat into my budget.
George O.
Yes! Before signing any contract/agreement/lease, or anything that appears to be a binding agreement, it is worth the money to have a lawyer review it. I charge a flat fee to review any and all agreements, so my clients know up front what they are paying, and they consider it a cost of doing business. The alternative, i.e. not having a lawyer review your agreements prior to signing, can be, and usually is, exponentially more expensive should a conflict arise (and they often do).
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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