The possibility of renewing this contract in accordance with paragraph A above is exercised by written notification to the owner at least __________ days before the date of termination. If the written notification is not made within the period indicated here, this possibility shall be extinguished and expire. As you can see, commercial leases are widespread and play an important role in the number of active businesses. Every business can – and often does – rent out its property instead of owning it. I hope you will better understand what a commercial lease is, why it is important and what types of commercial real estate is available. After the release of the surety and the signing of the lease, the tenant must begin the occupation. This means that the tenant can start using the space as stated in the rental agreement. Both parties are required to report on their defined obligations until the end of the rental period. Enter the name of the state in which the property is located, whose laws affect the content of the lease.
Once the tenant has been approved by the landlord, the deposit must be communicated to the tenant. Purchase option – Use if the tenant wishes to have the opportunity to acquire the property during the lease at a certain price. ☐ taxes are included in the rent, including an increase in property tax. In the event that, during a year of this Convention, property taxes increase beyond the amount of such taxes imposed for the fiscal year in which the term of the agreement begins, whether due to an increased rate, increased valuation or for other reasons, the lessee shall pay the lessor an amount after the presentation of the tax bills paid, corresponding to the increase in taxes on the land and the immovable property, proportionate or designated on which the destroyed property is located. . . . .