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A commercial lease agreement is used for a party to rent a commercial property or space instead of a residential one. There are many differences between a commercial lease agreement and a residential one. A commercial lease will typically involve more money and will also be used for a longer rental term. Commercials leases can be custom tailored to meet the specific requirements of tenants as well, unlike most standard residential contracts.
A typical lease will have information about the landlord and the tenant, including their identifying information and contact information. After this, specific information about the lease should be listed. This includes the lease term, monthly payments, down payment or security deposits, and any additional operating costs. The lease should also detail the specific activities that are not allowed on the property, what repairs and services the tenant will be responsible for, and other specific terms.
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