A Wyoming commercial lease agreement is a contract for a tenant to lease retail, office, or industrial space. The contract sets the rights and duties for both landlords and tenants, as well as informs about rent, deadlines, penalties, and other items.
The Wyoming law that oversees commercial leases is Wyoming Statutes Title 36, Chapter 5, Section 36-5-114. These types of leases are longer and more complicated than a residential lease, so consulting with a lawyer is advisable.
Writing Wyoming Commercial Lease Agreements
A Wyoming 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
- 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
- Eviction process
- Designation of the responsible parties for certain expenses and utilities
- Security deposit 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
