A Mississippi commercial lease agreement is a binding contract for a tenant to lease retail, office, 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 Mississippi law overseeing commercial leases is Mississippi Code Title 89, Chapter 7. These types of leases are typically more complex than other types of leases, so consulting with a lawyer is recommended.
Writing Mississippi Commercial Lease Agreements
A Mississippi commercial lease agreement should generally contain the following:
- Landlord’s information
- Property manager’s information (if applicable)
- Tenant’s information
- Property description
- Authorized use 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)
- Penalty for late/non-payment of rent
- Duties for payment of expenses and utilities
- Security deposit policy
- Permissible leasehold improvements
- Landlord and tenant contact information and form for legal service
- Place for the signatures of all parties
- Miscellaneous terms specific to the lease
