The Vermont commercial lease agreement is a rental agreement between a business entity and the owner or landlord of commercial space. This contract outlines the use of the office, retail, or industrial space and the terms and conditions associated with renting it.
Vermont Commercial Landlord/ Tenant Law
- Tenants must comply with any building rules and must ensure that any customers, sub-lessees, or guests abide by these rules as established in the initial commercial lease.
- For commercial leases, there are often different lease structures that can be advantageous for both the landlord and the tenant. For example, if a tenant wants more control of the day-to-day operations of the unit, he or she can sign a triple-net lease, which is designed to allow a tenant to not just pay the rent but the insurance, maintenance fees, and taxes on a property as well. Gross leases work opposite of this and are great for landlords that want to maintain control over a property.
- Commercial leases also should establish rules for altering the premises. Businesses oftentimes will want to add signage, renovate, or add spaces for their space. It’s essential that the lease establishes rules for this.
- Commercial leases are also typically longer than residential leases when it comes to terms. While a residential contract may span six months to a year, a commercial lease may have a 10-year period.
- Commercial properties in Vermont must also provide the tenant with disclosures about lead paint. Lead paint is a dangerous substance that can hurt children and pregnant women, and if a building predates 1978, then the landlord must disclose the presence of this substance.
- The lease must close with the consent of its participants. At the base of the document, each must sign their name. In addition, the signatories must also print their name and date the document to verify consent. Finally, a notary should be employed to notarize this legally binding arrangement.
