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Minnesota Commercial Lease

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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

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  • 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:

  1. Effective Date: It is the date an agreement or transaction takes effect or becomes enforceable.
  2. Lessee: An individual with a legal agreement allowing the use of an area or a building.
  3. Parties: The owner and the tenant who agree to sign a legal contract.
  4. 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.

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Michael C. on ContractsCounsel
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5.0 (16)
Member Since:
May 12, 2023

Michael C.

Attorney and Business Consultant
Free Consultation
St. Paul, MN
16 Yrs Experience
Licensed in MN
Brigham Young University

I offer top-tier legal expertise in startups, corporate governance, and general legal research. As a professor and published author of research articles and conference presentations, I have established myself as a legal expert, writer, and scholar. My strong research skills and innovative thinking make me a highly capable business consultant, legal adviser, and copywriter. Currently a member of the Minnesota bar. Recent freelance projects include business plans, contract drafting, legal advisory memoranda, due diligence, pre-trial motion practice, and discovery review.

Deanna M. on ContractsCounsel
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5.0 (2)
Member Since:
July 28, 2023

Deanna M.

Attorney
Free Consultation
Raleigh, North Carolina
6 Yrs Experience
Licensed in MN, NC
Ave Maria School of Law

I have had the opportunity to experience the legal industry in a private setting and public sector, representing individuals, companies of all sizes, as well as the Government. As a strong leader, I take pride in continuously tackling new challenges and learning as much as possible, always finding answers and delivering results to my clients. I received my JD from Ave Maria School of Law in Naples, Florida and went on to pass the Uniform Bar Exam. I am currently licensed in Minnesota and North Carolina. I have experience in real estate law, estate planning, contract law, family law, criminal law, and more.

Morgan N. on ContractsCounsel
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Member Since:
March 24, 2023

Morgan N.

Attorney
Free Consultation
North Dakota and Minnesota
3 Yrs Experience
Licensed in MN, ND
Mitchell Hamline School of Law

Morgan is a real estate attorney with six years of experience in residential, land, and commercial real estate transactions. He has experience assisting municipalities, businesses, buyers and sellers in real estate related matters. He has worked on various projects including purchase agreements, contract for deed, easements, mortgages, access agreements, contract/lease review and also title review. Prior to entering private practice, Morgan was a Realtor and assisted buyers and sellers in residential sales and closing services. Morgan provides proactive, responsive and dependable work to each client and project.

Noelle S. on ContractsCounsel
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Member Since:
August 3, 2023

Noelle S.

Employment and Business Lawyer
Free Consultation
Minnesota
17 Yrs Experience
Licensed in MN
Mitchell Hamline College of Law

I have been practicing law in Minnesota for the past 17 years, in general civil practice. My primary focus is employment law and contracts.

Jessica I. on ContractsCounsel
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Member Since:
August 31, 2023

Jessica I.

Attorney
Free Consultation
Saint Paul, Minnesota
6 Yrs Experience
Licensed in MN
Mitchell Hamline School of Law

Jess has been practicing law since 2018, but she's been in the business world far longer. Prior to law school, she gained valuable experiences managing in both retail and service industries. As an attorney, she combines practical real-world know-how with a deep understanding of the law. Learn more at www.voyagerlawmn.com

Christopher L. on ContractsCounsel
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Member Since:
September 6, 2023

Christopher L.

Business Lawyer
Free Consultation
Minneapolis, MN, United States
13 Yrs Experience
Licensed in MN
New England School of Law

I have worked in banking, financial technology and technology as a legal and compliance executive who negotiates and drafts contracts, ensures products and services comply with applicable regulations, implements policies and procedures, oversees litigation, and manages corporate governance programs.

Misi A. on ContractsCounsel
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Member Since:
December 20, 2023

Misi A.

Senior Counsel
Free Consultation
Inver Grove Heights
17 Yrs Experience
Licensed in MN
Mitchell Hamline College of Law

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.

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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.

Read 1 attorney answer>

Commercial Real Estate

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Asked on Apr 24, 2023

Can the tenant sublease the property to another business?

I am a business owner and I am looking to rent a commercial space for my business. I am considering signing a commercial lease with the landlord, but I am concerned about my ability to sublease the property to another business. I am trying to determine whether this is an option that is available to me and what the implications would be.

Joseph M.

Answered May 12, 2023

In Massachusetts, a commercial tenant can sublet or even fully assign 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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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

Ohio

Asked on Apr 20, 2023

How is the lease renewed at the end of the lease term?

I am a small business owner who recently signed a three-year commercial lease for my business. I am looking to understand the process of renewing the lease at the end of the three-year term. I am interested in learning more about the process, the timeline, and what I need to do to ensure that I can continue to operate my business at this location.

Paul S.

Answered Apr 21, 2023

If your lease has a renewal option, then you renew by following that process, which involves giving notice during the specified time frame. If you did not include a renewal option in your lease, then you'll need to contact the landlord 6-12 months before the end of the term, and inform the landlord that you want to renew the lease. Then you'll have to negotiate the terms with the landlord.

Read 1 attorney answer>

Real Estate

Commercial Lease

Florida

Asked on Apr 13, 2023

How long is a typical commercial lease agreement?

I am a small business owner looking to expand my operations, and I am considering leasing a commercial space. I understand that commercial lease agreements vary in length, but I am unsure how long the typical agreement is. I would like to know this information so I can better plan for my business needs and budget.

Moss S.

Answered Apr 28, 2023

The term of a commercial lease typically is no less than 3 years, and could be either 5 or 10 years. Both the Landlord and Tenant usually like long term leases.

Read 1 attorney answer>
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