The New Jersey commercial lease agreement is a contract that establishes the terms and conditions associated with renting a commercial space. This document outlines the relationship between the landlord and the tenant or business. Because commercial properties are expensive to maintain, these leases are more complicated than residential leases.
New Jersey Commercial Landlord/ Tenant Law
- Commercial leases are designed to have a longer-term than most residential leases, and in this state, they are even much more difficult to get out of when they have a business that is failing.
- Most commercial leases can be customized to fit either the needs of the tenant or the landlord. The terms of the lease can be decided upon by the parties involved in the agreement. This will include who pays the utilities, the taxes, and the insurance on the property.
- There is a federal law that states that all buildings that were built before 1978 will need to disclose that lead-paint may have been used in the construction of the building. This material can be hazardous to be around, especially for pregnant women and younger children.
- Since this is a contract that is going to last for years, both parties will have to sign and date the document. It is also a good idea to get the document notarized, though it is not something that is required.