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How do commercial leases differ from residential leases?

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Many residents of Florida have entered into residential leases. These leases allow people to find apartments, homes and other spaces to live in for a cost that they pay to the spaces’ owners. Residential leases can be tailored to the individual spaces that are offered for rent, but commonly, residential lease agreements have a few standard terms.

These leases will establish who is renting the property, the cost they will pay to rent it and how long the term of the lease will last. Similarly, commercial leases will utilize these same basic terms. A commercial lease, however, does not provide a person with a place to live. Rather, it provides a place where they can run their business or other commercial endeavor.

Commercial leases include other terms as well. A commercial lease will explain just what property the renter will get under the contract, and what they may do to the property. Not all commercial spaces can be modified and so renters should be aware of what their lending parties will allow them to change once they have assumed possession of the rented spaces.

Commercial leases will discuss what, if any, maintenance and servicing the property owners will offer to the renter businesses, as well as what kinds of zoning the properties are subject to so that renters are aware of what they can do in their new leased spaces. While this post is not a full discussion of what may be included in a commercial lease, it does offer readers a glimpse of what they will encounter when they go to sign such an agreement. It is often advisable for commercial renters to review their leases to ensure they comply with commercial real estate law.