Commercial Lease Agreement Define

The landlord and tenant must keep a copy of the rental agreement for their documents. This is especially useful in the event of a dispute. The lease may also indicate the permitted uses of the property. A deposit is a sum of money that the tenant pays to the lessor to ensure that the tenant fulfills all the obligations arising from the rental agreement. The lessor holds the deposit for the duration of the rental contract in order to ensure that the tenant is not late in the conditions of the rental contract or does not damage the property. If the tenant were to damage the property (“normal wear and tear”) or if the tenant has not paid the rent, the lessor has the right to recover the debt of the surety. . . .

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