Frequently Asked Questions About Property Lease
If you are confused as to how rental and rentee relationships work with regards to commercial leasing, here are some of the frequently asked questions to guide you:
- What should the lease contain? Every lease should identify who the tenant and landlord are, establish how long the lease will be in effect, and what terms the tenant must follow to legally occupy the space. A legal agreement will also be included stating the landlord is allowing the tenant to rent the space.
- Can the lease be negotiated? Every tenant should gain an intimate understanding of the lease, identify what they would like to be added, and negotiate with the landlord for these provisions.
- Must the lease be signed at the time of receiving it? You should take the lease and review it on your own. It is recommended that you let an attorney review the lease as well. This may not be necessary if you have experience with leases, but more likely, having someone to explain what each clause and provision means in an understandable language will greatly benefit you.