When a property is being given out on rent to be implemented for commercial usage, the contract that is signed by the property owner and the tenant is referred to as a commercial lease agreement. In this kind of an agreement, it is stated that the said piece of real estate can be used for any type of commercial purpose that can yield financial benefits.

The rent for this kind of property is fixed with a proper understanding between the owner and the payment. Read and find out what makes a free commercial lease agreement so important.

Keeps a record of the lease

There is a paper document created and a proper record of the commercial lease is generated by having this kind of agreement in place. It has all the important things written on it, such as the full property address, starting and ending date of the contract provision for agreement renewal along with termination conditions in any situation etc. If the rent is paid along with an advance amount at the outset, which might be the security deposit, it is also stated clearly in the document.

Mention of a purchase lease

A commercial lease agreement for any commercial property is for only a limited amount of time but if the tenant likes to purchase the property from the owner and the latter also wants to sell it off to the tenant, a new kind of agreement is created - which is referred to as Purchase Lease Agreement.

There is a lot of importance of this kind of agreement for both parties given that it has all the conditions stipulated when it comes to the sale of the property. You can find legal forms online of this type which can be downloaded and customized for specific requirements.

Very fast process

A purchase lease agreement is a fixed agreement and only that owner and the tenant enters the details that are important. Naturally, it is quite a fast process to get to the final purchase contract.

In the purchase agreement, there is a clear mention of the amount at which the property is being sold, along with some other important information that are essential for the transaction.