Who needs a CA Commercial Lease Agreement?
A Commercial Lease Agreement form is a legally binding contract between an owner of a rented property (a lessor) and a lessee. Both the landlord and the tenant have an interest in completing an agreement that defines their rights and obligations and provides legal grounds to file a lawsuit in the case of the violation.
What is the CA Commercial Lease Agreement for?
The Commercial Lease Agreement specifies the terms and conditions of the lease including the amount of payment, its due date, security deposit, provisions, etc. By signing a detailed lease agreement, both parties protect themselves in the case of property damage or misuses of rent.
The tenant to this contract has the right without the Landlord's consent to assign this lease to a corporation with which tenant may merge or consolidate, to any subsidiary of tenant, to any corporation under common control with tenant, or to a purchaser of substantially all of tenant’s assets.
Is the CA Commercial Lease Agreement accompanied by other forms?
The given Residential Lease is a standard agreement, which does not require any attachments or supporting documentation. But, in so far as the aim of the deal is for a Landlord and a Tenant to agree to the terms and provisions, they may request any additional statements or disclosures. For instance, landlords, to protect themselves from non-payment of rent, can ask tenants to provide their credit statement or rental history. A Tenant, in turn, is advised to request a lead-based paint disclosure if the property was built before 1978.
When is California Commercial Lease Agreement due?
The due date of the rental agreement, the security deposit and the first payment are subject to negotiation between the parties, but signing an agreement before a Tenant’s move-in is of primary importance.
Where do I send California Commercial Lease Agreement?
Two copies of the Agreement should be signed and dated by both parties; one copy is given to the Landlord, and the other is for the Tenant. Each copy should be kept until the termination of the agreement. If a real estate agent is involved in the deal, they should also retain a copy of the contract for professional records.