Iowa commercial lease agreements are a binding 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, penalties, and other items.
The Iowa law that governs commercial leases is Iowa Code Title XIII, Chapter 554. These types of leases are typically more complex and customizable than a residential lease, so consulting with a lawyer is advisable.
Writing Iowa Commercial Lease Agreements
An Iowa commercial lease agreement should generally contain the following:
- Landlord’s information
- Property manager’s information (if using)
- Tenant’s information
- Property description
- Authorized use of the 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)
- 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
- 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
- Place for the signatures of all parties
