Free Rental and Lease Agreement Templates

This Lease Agreement made the _ day of ________, 20____, between _________________________ [name of landord/lessor], of ____________________________________ [street address], State of ____, and _________________________ [name of tenant/lessee], of

____________________________________ [street address], State of ____,, collectively referred to herein as the “Parties”, agree as follows:

DESCRIPTION OF LEASED PREMISES: The lessor agrees to lease to the Lessee the following described square feet (SF) of ____ [type of space] located at __________________

_______________ [street address], State of ____.

Additional Description: __________________________________

Hereinafter known as the “Premises”.

USE OF LEASED PREMISES: The Lessor is leasing the Premises to the Lessee and the Lessee is hereby agreeing to lease the Premises for the following use and purpose: ______________________________

Any change in use or purpose the Premises other than as described above shall be upon prior written consent of Lessor only.

TERM OF LEASE: The term of this Lease shall be for a period of _ year(s) month(s) commencing on the day of ________, 20____ and expiring at Midnight on the _ day of ________, 20____. (“Initial Term”)

BASE RENT: The net monthly payment shall be ______ dollars ($_______________), payable monthly with the first payment due upon the commencement of the Lease and each monthly installment payable thereafter on the __ day of each month. Said net monthly payment is-hereafter referred to as the “Base Rent”. Rent for any period during the term hereon, which is for less than 1 month shall be a pro-rata portion of the monthly rent.

OPTION TO RENEW: (Check One)

☐ – Lessee may not renew the Lease.

☐ – Lessee may have the right to renew the Lease with a total of _ renewal period(s) with each term being year(s) ___ month(s) which may be exercised by giving written notice to Lessor no less than 60 days prior to the expiration of the Lease or renewal period.

Rent for each option period shall: (Check One)

☐ – Not increase.

☐ – Increase as calculated by multiplying the Base Rent by the annual change in the Consumer Price Index (CPI) published by the Bureau of Labor Statistics by the most recent publication to the option period start date.

☐ – Increase by __%

☐ – Increase by _______ dollars ($_______________)

EXPENSES: [Check and Initial whether this Lease is Gross, Modified Gross, or Triple Net (NNN)]

☐ – GROSS. Tenant’s Initials _ Landlord’s Initials _

This section outlines the terms of Lessor and Lessee obligations for liability and property damage insurance, expenses for heating, plumbing, and electrical and general exterior structural maintenance and repairs.

☐. MODIFIED GROSS. Tenant’s Initials _ Landlord’s Initials _

It is the intention of the Parties that this Lease shall be considered a “Modified Gross Lease”.

In addition to the Base Rent, the Lessee shall be obligated to pay the following monthly expenses: ____________________________________________________________________________________________________________________________________________________________________________________

Lessor shall pay the following monthly expenses: ____________________________________________________

☐. TRIPLE NET (NNN). Tenant’s Initials _ Landlord’s Initials _

It is the intention of the Parties that this Lease shall be considered a “Triple Net Lease”.

The terms of Lessor and Lessee obligations for providing services, performing acts or paying expenses, charges or obligations regarding the premises are clearly established in this section, including management fees, property taxes, and assessments, repaving, restriping of the parking lot, cleaning and custodial, and other relevant areas.

SECURITY DEPOSIT: In addition to the above, a deposit in the amount of __________ dollars ($__________________), (Additional terms may be stipulated in this section, including when the security deposit is due and conditions for the return of the deposit upon vacancy.

LEASEHOLD IMPROVEMENTS: The terms and conditions of any improvement made by the lessee must be addressed in this section, including what is allowed, and what is not allowed by the lessor.

LICENSES AND PERMITS: A copy of any and all local, state or federal permits acquired by the Lessee which are required for the use of the Premises shall be kept on-site at all times and shall be readily accessible and produced to the Lessor and/or their agents or any local, state, or federal officials upon demand.

OBLIGATIONS OF LESSEE:

This section clearly states the responsibilities of the Lessee with regard to maintenance and general cleaning and repair of the premises.

INSURANCE:

This section is where the terms and obligations for maintaining insurance on the property are established. It details who is responsible for insuring the property and buildings.

SUBLET/ASSIGNMENT: This section is used to assign the terms of occupancy and whether or not the lessee may sublet the space to others.

DAMAGE TO LEASED PREMISES: This is where the terms outline the abatement of rent/lease payments due in the event of damage to the premises.

DEFAULT AND POSSESSION:

This section is used to define the events that will take place in the event of the lessee defaulting on the payments for the office space. It includes remediation and legal actions that will be taken in the event of a default as well as payment penalties for default.

INDEMNIFICATION:

This is the section that discusses indemnification and the agreement of the Lessee to hold the Lessor harmless from all claims and liabilities that may arise from the Lessee’s use and occupancy of the premises.

BANKRUPTCY – INSOLVENCY: This section is for defining the conditions of the responsibilities of the lessee and the lessor in the event of bankruptcy or insolvency.

SUBORDINATION AND ATTORNMENT: This section is used to define the terms and rights of the lessee in the event of a lien of any mortgage in force against the property.

MISCELLANEOUS TERMS:

This is the area in which the rules, regulations, and governmental authority with respect to use and occupancy are discussed and agreed upon. The lessee agrees to comply

ESTOPPEL CERTIFICATE: Lessee at any time and from time to time, upon at least ten (10) days prior notice by Lessor, shall execute, acknowledge and deliver to Lessor, and/or to any other person, firm or corporation specified by Lessor, a statement certifying that the Lease is unmodified and in full force and effect, or if the Lease has been modified, then that the same is in full force and effect except as modified and stating the modifications, stating the dates to which the fixed rent and additional rent have been paid, and stating whether or not there exists any default by Lessor under this Lease and, if so, specifying each such default.

HOLDOVER: Should Lessee remain in possession of the Premises after the cancellation, expiration or sooner termination of the Lease, or any renewal thereof, without the execution of a new Lease or addendum, such holding over in the absence of a written agreement to the contrary shall be deemed, if Lessor so elects, to have created and be construed to be a tenancy from month to month, terminable upon thirty (30) days’ notice by either party.

WAIVER: Waiver by Lessor of a default under this Lease shall not constitute a waiver of a subsequent default of any nature.

GOVERNING LAW: This Lease shall be governed by the laws of the State of _____.

NOTICES: Payments and notices shall be addressed to the following:

Lessor

Lessee

AMENDMENT: No amendment of this Lease shall be effective unless reduced to writing and subscribed by the parties with all the formality of the original.

BINDING EFFECT: This Lease and any amendments thereto shall be binding upon the Lessor and the Lessees and/or their respective successors, heirs, assigns, executors and administrators.

IN WITNESS WHEREOF, the parties hereto set their hands and seal this _ day of ________, 20____.

Lessee’s Signature Printed Name

Lessor’s Signature Printed Name

ACKNOWLEDGMENT OF NOTARY PUBLIC

STATE OF __________

_ County, ss.

On this _ day of ______________, 20___, before me appeared ________, as LESSOR of this Commercial Lease Agreement who proved to me through government issued photo identification to be the above-named person, in my presence executed foregoing instrument and acknowledged that they executed the same as their free act and deed.

Notary Public

My commission expires:_

ACKNOWLEDGMENT OF NOTARY PUBLIC

STATE OF __________

_ County, ss.

On this _ day of ______________, 20___, before me appeared ________, as LESSEE of this Commercial Lease Agreement who proved to me through government issued photo identification to be the above-named person, in my presence executed foregoing instrument and acknowledged that they executed the same as their free act and deed.

Notary Public

My commission expires:_