What is Agreement To Lease?
Agreement to lease is a contract prepared between an owner of commercial property and a tenant. This agreement defines the various parameters and regulations under which the commercial property is to be given on rent. This agreement is also known as Business Lease, Industrial Lease, Office Space Agreement or Standard Commercial Lease.
Commercial Lease means a lease of a retail store, restaurants, hotels, offices, industrial premises, warehouses etc. An agreement to lease offers the tenant exclusive possession to set up interior or operational setup before starting the business.
The agreement of the lease clearly defines the rights and obligations of both the involved parties and the respective expectations of the transaction.
The lease agreement is prepared when consent to set-up the premises is required before business operations.
The lease agreement includes an operating area
Rental payment
Security deposit amount
Parking space allotment
Terms of use
Duration of the rental period
Operating costs
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