A commercial lease agreement is a legally binding document to establish a relationship between a party renting a business property and an individual or another business entity. Also referred to by other names such as a business lease or commercial property lease, this type of agreement requires attention to detail.
In this article, you will discover whether you can write a commercial lease agreement on your own in Florida.
Florida Commercial Lease Agreements – Explaining the Concept
Essentially, a commercial lease agreement is a document that grants a tenant the right to occupy and use a property for business purposes. The tenant’s rights must be expressly defined in the contract.
The owner of the property will be the landlord of the agreement, receiving an agreed-upon amount of compensation for leasing the property for a determined period. A well-drafted commercial property lease requires clear language and detailed information like:
- The lessor’s name and business address
- The tenant’s proper identification
- The address of the business or individual renting the property
- A concise description of the property
- Whether the property was previously leased or not
- The total amount to be paid for the lease (including advance payments, additional charges, etc.)
- The amount of each rental payment due per specific period (e.g., semester, trimester, monthly, etc.)
- The due date for payment
- A description of any additional charges not included in the rental payment
- The tenant’s responsibility for loss or damage incurred to the property (other than average wear and tear)
- A description of each party’s responsibilities in maintaining or servicing the property under the contractual terms
- The contract’s termination date
- Circumstances that allow an early termination
- The existence of a grace period
- Whether it is possible to reinstate the contract after defaulting payments
- Disclosure of any penalties or charges for late payments
- Any warranties due to each party involved in the contract
Can I Write My Own Commercial Lease Agreement in Florida? – The Verdict
Florida law has no explicit regulation that requires prospective lessors and lessees to hire an attorney to write a commercial lease agreement. While it is not mandatory by law, working with an experienced legal advisor to draft a commercial lease contract is the best approach.
The first benefit of this alternative is guaranteeing full legal compliance. State law has specific regulations to govern the content of commercial lease agreements. Any non-compliant terms will likely be voided and not considered enforceable in court.
If the terms used in the contract violate the law, the document may be subject to penalties like fines and the payment of damages to the injured party.
Another benefit is preventing potential disputes in the future. Failing to proceed with proper due diligence and not guaranteeing proper communication between the parties involved may lead to unexpected hassles, which can eventually escalate to lawsuits.
Whether you are a lessor or a lessee in Florida, the only way to ensure a successful commercial lease agreement is to rely on the guidance of someone with a superior level of legal expertise in the area.
Do You Want to Draft a Commercial Lease Agreement in Florida? – Immediately Contact Attorney Romy B. Jurado
You do not need to expose a business lease to unnecessary risks. Contact Attorney Romy B. Jurado today by calling (305) 921-0976 or emailing Romy@juradolawfirm.com for an individual consultation.