A commercial lease is a legally binding contract that gives a
tenant certain rights over a property for a set period of time
subject to the terms and conditions set out in the lease. A
commercial lease is used when leasing property used primarily for a
business.
You should never sign a lease without understanding all of its
terms and conditions. If you don't understand what you are
agreeing to you could experience serious financial and legal
problems.
General terms
It is rare to find a commercial lease that is prepared by the
tenant. It is almost always the landlord that prepares the lease
when commercial premises are rented and the terms of the lease will
generally strongly favour the landlord. Once the lease is signed
the tenant is required to comply with the terms and conditions of
the lease during their occupation of the landlord's
premises.
