Oregon Commercial Lease: Types, Key Terms To Know, Costs

Reviewed for legal accuracy by Forest Hamilton JD

Quick Facts — Commercial Lease Lawyers

An Oregon commercial lease is a fixed contract between the property owner and the tenant clearly stating their agreement in leasing a property. Therefore, all the terms and conditions decided between the two parties concerning the property, such as rental cost, maintenance charges, commercial tax, etc., are present within the contract.

Before signing the Oregon commercial lease, there are many factors that you must consider apart from selecting the perfect location. For example, you must sign a commercial lease to use the property for business purposes.

Things to Remember Before Signing the Oregon Commercial Lease

From a legal point of view, here are the things to be done before signing the contract-

  • Do a Survey Check

    Once you finalize the property, it is important to conduct a survey check. For example, you must know about the water supply, if there are frequent electricity outbursts, the structure of the property, etc. In case the structure of the property is weak, you would also need to invest money in repairing the property. Conducting a survey check helps you understand the finances and determine whether or not the property is worth the rental amount.

  • Verify All the Documents

    There are many fraudsters in the market. Therefore, it is important to get all the documents verified, such as the property ownership papers, the legality of the property, the total square area stated in the government records, etc. Getting the documents verified helps you be safe and make an informed decision.

  • Discuss the Terms and Conditions with the Opposing Party

    While drafting the contract, you must thoughtfully discuss all the terms and conditions. Generally, both parties have a meeting and put their points forward. In case of a contradiction, they discuss and negotiate the terms. Once finalized, the terms are drafted within the contract and reviewed. In case of discrepancies, you can repeat the same process. Some common terms and conditions discussed are duration, rental cost, the due date of payment, maintenance cost, taxes, insurance, etc.

The first thing you must do before signing the Oregon commercial lease is consult a lawyer. A lawyer is experienced with the right skills and knowledge to help you with any legal proceedings. They play a major role in drafting the contract and saving you from legal complications.

Key Terms

  • Contract Duration - Contracts are only valid for a limited period. It is known as the contract duration. In the case of a commercial lease, it is generally between three to five years.
  • Rental Cost - The amount payable by the tenant to the property owner for using the property.
  • Maintenance Charges - Society generally demands a certain amount for using their services, such as society lights, lifts, etc.
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Conclusion

Signing a commercial lease contract is compulsory for tenants in Oregon to conduct any form of business in the rental property. Since a contract is a legal proceeding, errors made within the contract may cause serious problems. Thus, it is advisable to hire a lawyer to help you draft the Oregon commercial lease. To get the best lawyers, check out the services offered by Contracts Counsel.

Frequently Asked Questions

How do I hire a lawyer to draft a commercial lease in Oregon?

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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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