A Vermont commercial lease agreement is a contract for a tenant to lease retail, office, or industrial space. The agreement defines the responsibilities and rights for both landlords and tenants, as well as gives details about rent, deadlines, penalties, and other information.
The Vermont law that governs commercial leases is Vermont Statute Title 9A, Article 2A. Commercial agreements are often more complicated than a residential lease, so consulting with a lawyer is advisable.
Writing Vermont Commercial Lease Agreements
A Vermont commercial lease agreement should generally contain the following:
- Landlord’s name and contact information
- Tenant’s name and contact information
- Description of the lease property
- Authorized use 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 (including eviction process)
- Designation of the responsible parties for certain expenses and utilities
- Security deposit and refund policy
- Permissible leasehold improvements allowed by the landlord
- Landlord and tenant contact information and form for legal service
- Place for the notarized signatures of all parties
- Miscellaneous terms specific to the lease
