A South Carolina commercial lease agreement is a binding contract for a tenant to lease retail, office, or industrial space. The contract sets the rights and responsibilities for both landlords and tenants, as well as details about rent, penalties, deadlines, and other items.
The South Carolina law that governs commercial leases is South Carolina Code of Laws Title 27, Chapter 35. Commercial leases are generally longer and more complicated than a residential lease, so consulting with an attorney is advisable.
Writing South Carolina Commercial Lease Agreements
A South Carolina 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
- Authorized use of the lease property
- Description 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 or non-payment of rent
- Eviction process
- Designation of the responsible parties for certain expenses and utilities
- Security deposit and refund policy
- Permissible leasehold improvements
- Landlord and tenant contact information and form for legal service
- Place for the notarized signatures of all parties
- Miscellaneous terms specific to the lease
