4 Important Clauses In A Commercial Lease Agreement

When taking a commercial space on rent, you should thoroughly check the lease agreement before putting the signature on it. There is a huge outgo in the case of commercial space and the rental agreement is an important part of the business. Here is a short note on the important clauses in a commercial lease agreement.

Even if a commercial lease agreement is prepared using a common template, there are some specific clauses that you have to check and verify before making the deal.

•    Competitor clause

This competitor clause will be beneficial to you if you are a retailer. This clause in the agreement prevents the landlord from leasing out another space in the same building to someone, who is your competitor.

•    Gross rent/ Net rent lease

In the case of a gross rental deed, the tenant has to pay all other applicable expenses such as property tax, maintenance charges etc along with the rent. But in the case of net rent lease, these extra charges are not applicable.

•    Termination conditions

It’s better to add a lease termination condition clause in advance in the agreement to avoid any confusions in the future.

•    Renewal Clause

There must be a lease renewal clause in the agreement.

Heather Homes, the top builders in Trivandrum presents a choice of luxury flats in Trivandrum at affordable prices. Heather Ferns, apartments in Trivandrum by Heather Homes features world-class amenities and global designs.

To Know More Heather Homes