A commercial lease is an agreement between a landlord and a tenant for nonresidential use of a property. Commercial leases differ from residential leases in that there are fewer protections for the tenants, no standard forms, the terms are usually long-term, and there is more flexibility in negotiating. A commercial lease agreement should define what is being leased; whether it is a gross or net lease; the rental rate; who is responsible for maintenance; the approved activities for the property; and possibilities for additions and improvements to the property. Because there is so much money at stake, a commercial lease needs to be clear and carefully drafted. If you are a commercial landlord or tenant and would like an experienced Arizona real estate attorney to review and discuss your lease agreement, get in touch with us here at JacksonWhite.
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