Conveyancing

What are the details that should be in a commercial lease?

Published in: June 2012

Like all other property interests, commercial leases should contain the following details:

• the parties to the agreement
• the property to be leased
• the date of commencement
• the length of the agreement
• how the premises will be used.

Similar to residential leases, a commercial lessee has the right for quiet enjoyment of the property, but must also allow a lessor to enter and inspect the property, carry out repairs, and finally, to re-enter and take possession if necessary.

Although commercial leases are more businesslike in its construction, the reasonable person should still be able to understand the substance of the agreement, as well as the purpose and object of the transaction.