The Tennessee commercial lease agreement is a binding contract between a landlord and a business entity for the lease of office, retail, industrial, and other commercial space. This document outlines the terms and conditions of renting such a space, as well as the responsibilities of each party.
Tennessee Commercial Landlord/ Tenant Law
- The landlord must inform the tenant of any lead-based paint hazards that are on the property. According to federal law, this means that any property that was built before 1978 will need to have this disclosure included with the rental agreement.
- The party that will be responsible for the maintenance and the repairs of the premises should be listed in the document. Some lease options will have the tenant responsible for repairs, while others will fall on the landlord.
- Make sure the terms of the lease are in the rental document. This should include the amount of rent that is due each month, who pays which utilities, and the steps for the tenant to renew the terms of the lease.
- Most commercial rental agreements are designed with a much longer lease, so the likelihood of a commercial lease having a 10-year term or more is substantial.