Commercial Lease Agreement

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Lease Term

Lease start date:

The lease will:

End on a set date. Have no set end date.

Date Lease ends:

Lease will renew:

Monthly Yearly

Will the tenant be able to move in before the lease start date? (early possession)

Yes No

Possession (occupancy) date:

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Rent Details

Type of rent:

Gross rent Gross rent plus specified operating costs Gross rent plus all operating costs

How often will the tenant pay rent?

Weekly Monthly Every 3 months Annually

Gross rent amount:

per month(e.g. 500.00)

Rent will be paid per:

Time Period Square Foot

Tenant's operating costs are calculated according to:

Tenant's share of all leasable areas in building Fixed amount per period Other

Annual operating cost that tenant pays per square foot:

(e.g. 3.50)

Describe the operating costs the tenant is responsible for:

(e.g. Tenant will pay all metered utilities and 30% of remaining operating costs)

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Rent Payment

What day of the week will rent be paid?

What day of the month will rent be paid?

When will the first rent payment be made?

What day of the year will rent be paid?

Specify a payment address?

Yes No

Payment Address

Address: (e.g. Street, City, Province, Postal Code)

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Rent Increase & Late Payments

Do you want to include built-in rent increases?

Yes No

Describe rent increases:

(e.g. First Year - $1000.00, Second Year - $1250.00, etc.)

Do you want to specify late payment charges?

Yes No

Type of late payment charge:

Fixed charge per late payment Fixed charge per day late % of Rent Other

Amount of late charge:

(e.g. 500.00)

Describe the late payment charge:

Do not include insurance, taxes or operating costs, such as security or snow removal, here as they will be addressed later in the questionnaire.

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Frequently Asked Questions

What are the different types of lease terms?

What are the different types of lease terms?

Fixed End Date
A lease with a fixed end date gives certainty of term for both the landlord and the tenant. It specifies the exact day the tenancy will end. The advantage here is that neither party has to give notice to terminate the lease, it simply ends on the specified date. In a fixed end date lease, the landlord cannot increase the rent, or change any other terms of the lease unless he specifically reserves the right in the lease, and the tenant agrees to the changes. If the tenant remains past the specified date the landlord can either: (a) accept rental payments and have the lease continue as a month-to-month tenancy with the same rules as the expired fixed end date lease; (b) sign a new lease; or (c) start eviction proceedings against the tenant.
Periodic/Automatic Renewal (no set end date)
A periodic tenancy (a weekly/monthly/yearly lease with automatic renewal) will continue until one of the parties terminates the lease. To terminate the lease, the landlord or tenant must give notice of their intention to terminate as specified by statute. A landlord can usually raise the rent, or change the terms of the lease in these types of agreements by providing proper notice as required by statute. At the end of the notice period the tenant must move out or the landlord can start eviction proceedings against the tenant.

What is an automatically renewing lease?

What is an automatically renewing lease?

An automatically renewing lease will renew after each rental period until one party chooses to end the lease by giving written notice.

What is early possession and why is it used?

What is early possession and why is it used?

A tenant might be given possession of the property before the lease start date where the tenant needs to perform leasehold improvements.

What is a Gross Lease?

What is a Gross Lease?

The gross lease typically means a tenant pays one lump sum for rent without any additional costs (such as operating costs).

What is a Net Lease?

What is a Net Lease?

A net leases typically require the tenant to pay substantially all of the operating costs associated with the leased property, such as certain operating costs or a portion of all the landlord’s operating costs for the building and common areas.

What are operating costs?

What are operating costs?

Operating costs are the routine day-to-day costs of doing business, such as utilities, maintenance, insurance, and cleaning.