An Indiana commercial lease agreement is a contract for a tenant to lease industrial, retail, or office space. The agreement sets the responsibilities and rights for both landlords and tenants, as well as details about rent, deadlines, penalties, and other items.
The Indiana law that governs commercial leases is Indiana Code Title 26, Article 1, Chapter 2.1. These types of leases are longer and more complicated than a residential lease, so consulting with a lawyer is advisable.
Indiana Commercial Lease Requirements
The following are commercial lease requirements in Indiana:
Manager and Agents – Anyone who represents the landlord must have their names and addresses disclosed if they are going to be entering the premises with notice.
Access – Landlords and their agents must provide notice before entering the unit. This makes it illegal for these parties to enter the property in a non-emergency situation.
Writing Indiana Commercial Lease Agreements
An Indiana 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 property
- Authorized use of the lease property
- Type of lease (gross, modified-gross, or triple-net)
- Term of the lease and the start date
- Option to renew the lease (if any)
- Rent amount
- Penalty for late/non-payment of rent (including eviction process)
- Designation of who pays for utilities and expenses
- Security deposit and refund policy
- Leasehold improvements allowed by the landlord
- Landlord and tenant contact information and form for legal service
- Place for the signatures of all parties
- Any other terms specific to the lease
