A New Jersey 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.
These types of leases are longer and more complicated than a residential lease, so consulting with a lawyer is advisable.
Writing New Jersey Commercial Lease Agreements
An Alabama commercial lease agreement should generally contain the following:
- Landlord’s contact information
- Property manager’s name and contact information (if any)
- Tenant’s contact information
- Description of the property
- 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)
- Duties for paying 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
