A commercial lease is a contract between a landlord and a business for the rental of property. Most businesses will choose to rent property instead of buying it because it requires less capital.

An office lease agreement is a legal document between a landlord and tenant that will be occupying space for non-retail use. The space is generally suited for occupations such as accountants, attorneys, real estate agents, or other related fields where clients are welcome for professional consultation. Rent is usually figured on a price per square foot ($/SF) basis with the obligations of the parties to be negotiated between the landlord and tenant.

Whether you are the landlord or tenant, renting office space does not usually happen overnight. Determining the amount of space the tenant will need plus negotiating the terms of the lease can last several weeks before the parties can come to an agreement. Therefore, it’s best to have patience throughout the process.

If the property needs to be built-to-suit to the tenant’s needs then the occupancy date will have to wait until the construction is complete. If the property is ready immediately the landlord will be required to hand over all access to the premises, including, but not limited to, common areas, mailboxes, parking areas, and any other areas permitted under the lease agreement. If the tenant is responsible for any services on the property such as internet, cable, water/sewer, electricity, or any other utilities. The tenant will be required to place them in their name.