An Idaho commercial lease agreement is a contract for a tenant to lease office, retail, or industrial space. The agreement sets the responsibilities and rights for both landlords and tenants, as well as details about rent, deadlines, and penalties.
The Idaho law that governs commercial leases is Idaho Code Title 28, Chapter 12. These types of leases are generally longer and more complicated than a residential lease, so consulting with a lawyer is advisable.
Idaho Commercial Lease Requirements
For the sake of clarity and preventing liability, any commercial lease needs to ensure that certain aspects of the business agreement are covered. These include:
- Storage – Every agreement should explicitly state that no items should be stored on the premises that can be considered explosive, flammable, or inherently dangerous. It should also be clearly stated that the selling of these or any illegal items on the premises is also prohibited.
- Rules on Subleasing – For some properties, like gas stations, a business owner may sublease some space for another business that might enhance his or her bottom line. If this is acceptable on the property, it’s critical that rules are established so that there are no issues with the lessee. For example, a section stating that the landlord’s consent is required is relatively standard.
Writing Idaho Commercial Lease Agreements
An Idaho commercial lease agreement should generally contain the following:
- Landlord’s name and contact information
- Property manager’s name and contact information (if any)
- Tenant’s name and contact information
- Description of the lease property
- Type of lease (gross, modified-gross, or triple-net)
- Term of the lease and the commencement date
- Option to renew the lease (if any)
- Rent and landlord’s profit participation in operations (if any)
- Authorized use of the lease property
- Authorized use of the lease property
- Penalty for late/non-payment of rent (including eviction process)
- Designation of the responsible parties for certain expenses and utilities
- Security deposit and refund policy
- Permissible leasehold improvements allowed by the landlord
- Additional terms as needed (including municipal codes and restrictions)
- Landlord and tenant contact information and form for legal service
- Jurisdiction and reference to Idaho state law
- Place for the signatures of all parties
- Miscellaneous terms specific to the lease
