Looking for a commercial lease agreement template in India? You`re in the right place. A commercial lease agreement is a legal document that outlines the terms and conditions between a landlord and a tenant regarding the rental of a commercial property.
It is important to have a well-written and comprehensive commercial lease agreement in place to protect both parties. This agreement should include details about rent payment, security deposit, maintenance, utilities, and other important terms and conditions.
To help you get started with creating your commercial lease agreement in India, we have compiled a list of key elements that should be included in your template.
1. Property Information: Start by including a detailed description of the property, including its location, size, and any special features or amenities included in the rental.
2. Term of Lease: This section outlines the length of the lease, including any renewal options. It should also state the start and end date of the lease and any penalties for early termination.
3. Rent and Security Deposit: Clearly state the amount of rent to be paid each month and when it will be due. This section should also include details about the security deposit, including the amount and conditions for its return.
4. Maintenance and Repairs: Specify the responsibilities of both the landlord and tenant for maintaining and repairing the property. This should include details about who is responsible for routine maintenance and any repairs that may be necessary during the lease term.
5. Utilities: Describe which utilities are included in the rent and which are the responsibility of the tenant. This section should also detail how utility bills will be paid and divided among tenants if applicable.
6. Use of the Property: Clearly state the permitted uses of the property and any restrictions on its use. This section should also include details about any zoning or other regulations that may apply.
7. Insurance and Liability: Specify which party is responsible for obtaining insurance coverage and what types of coverage are required. This section should also detail any liability limitations or waivers that may apply.
Having a commercial lease agreement template in India can help ensure that the rental process is smooth and hassle-free for both the landlord and tenant. Make sure to consult with an experienced attorney to ensure that your template is legally sound and meets all local regulations.
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