The West Virginia commercial lease agreement is a contract that allows a business to use commercial space in exchange for rent. Retail, office, and industrial spaces all use these types of leases. A commercial lease agreement outlines the terms and conditions associated with renting the property.
West Virginia Commercial Landlord/ Tenant Law
- Any landlord will be required to give a new tenant information on the dangers of lead-based paint before they move in. This is especially required in buildings that were constructed before the year 1978.
- There are different types of commercial leases that a landlord and a tenant can agree to. The specific type that is selected will decide which party is going to be responsible for paying which expenses. The tenant could pay the rent, or they could be responsible for the insurance and the taxes on the property as well.
- Most commercial leases tend to have a longer-term than a residential lease, so a rental agreement can be 10 years or longer. If the tenant would like to sign a lease with a longer period, then the terms are typically going to be negotiable.
- When a tenant is considering which type of commercial rental agreement to accept, they should consider a percentage lease. For this type of lease, the tenant will have a lower rent payment that they need to take care of each month, but once their business makes over a certain amount, they will also need to give a percentage of their earnings to the landlord.