I am closing on my first commercial property soon and already have my tenant ready to move in once the deal is final! I have other residential tenants but I am not sure if the lease used on commercial should be similar to that of a residential tenant?
I could not find a commercial lease agreement on the FileShare here on biggerpockets. Would anyone be willing to offer me a sample commercial lease agreement or give me some advice on what should be different from commercial vs residential on the lease?
I do realize I can google and find a lease out on the web but, when possible, I prefer advice and guidance from experience vs search engine results and blog articles.
thank you in advance for your response and advice!
A commercial lease is radically different from a residential lease. I suggest you contact an attorney as each one is tailored for your needs.
@Ronald Rohde is 100% correct. These leases are night and day different. Also, I believe they can vary by state quite a bit (probably impacts residential more) so pulling one off fileshare or web might have some issues. Any real estate lawyer is going to have their standard form so if you can deliver them the basic business terms clearly i would think they could have a lease put together pretty quick (reasonable $).
Thanks for the feedback. Ill take a closer look into what ill need for GA.
Look up Carter Stout with Stout/ Kaiser
Thanks a lot @David Gonzalez !
Hire an attorney who does commercial lease. Unlike residential leases which often contain a litany of statutory requirements and consumer protection provisions, almost everything is negotiable in commercial leases and you have to fend for yourself. Hiring competent counsel is a good ROI.
Look up Cohen Law for commercial lease related help.
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