A commercial lease agreement is a contract that legally binds the property owner and the tenant. The lease agreement gives the tenant the right to use the property for commercial purposes for a certain period in exchange for money paid to the property owner.

This type of contract also provides an outline of rights and responsibilities of both the tenant and the proprietor.

Subject of the commercial lease agreement

This type of agreement involves the lease of real property for commercial purposes. It usually covers the lease of a store, offices, industrial and commercial buildings.

Basic elements of CLA

• Property address
• Start and termination dates
• Names of all parties involved including their signatures
• Rental amount and complete detail of all deposits
• The names of the landlord and tenants and other parties involved and their signatures
• Interval of payment
• Provision of lease renewal