Commercial vs Residential Lease Agreements
I am closing on my first commercial property soon and already have my tenant ready to move in once the deal is final! I have other residential tenants but I am not sure if the lease used on commercial should be similar to that of a residential tenant?
I could not find a commercial lease agreement on the FileShare here on biggerpockets. Would anyone be willing to offer me a sample commercial lease agreement or give me some advice on what should be different from commercial vs residential on the lease?
I do realize I can google and find a lease out on the web but, when possible, I prefer advice and guidance from experience vs search engine results and blog articles.
thank you in advance for your response and advice!
Most Popular Reply
@Ronald Rohde is 100% correct. These leases are night and day different. Also, I believe they can vary by state quite a bit (probably impacts residential more) so pulling one off fileshare or web might have some issues. Any real estate lawyer is going to have their standard form so if you can deliver them the basic business terms clearly i would think they could have a lease put together pretty quick (reasonable $).