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Free Commercial Property Lease Template
If you are considering leasing a property then you may want to take advantage of a free commercial property lease template. This can allow you to create a lease that you can then get your tenant to sign. There are advantages and disadvantages associated with using a free commercial property lease template and we will examine these here.
The Benefits of Using a Free Commercial Property Lease Template
The main benefit with using a free commercial property lease template is that it is just so easy to do things this way. If you are not experienced at creating a lease or you don’t want to spend a lot of money having one professionally drawn up then this can be a good way to go. We are lucky to live in the age of the web where getting your hands on this type of template couldn’t be easier. The nice thing about a template is that you can alter it to suit your unique needs; it is not just a case of printing out the first one you see and hoping that this will do well enough.
The Disadvantages of Using Free Commercial Property Lease Templates
There are a few disadvantages with using this type of template. In fact they might be completely inappropriate for your needs. It is possible to change them around to include those specifications that you require but most people just don’t know what to include; this is why they have turned to a template in the first place. This is a legal document and getting it wrong could cause a lot of hardship further on down the road. It is not only what a property lease does say that is important it is also what it doesn’t say; failure to have everything covered could leave your tenant with many legal loopholes if ever you get into confrontation. This is the real risk with using free templates; you often get what you pay for.
Things to Consider with a Free Commercial Property Lease Template
If you feel prepared to risk one of these free templates then you will need to do your best to cover your requirements; your first goal will be to establish what these requirements actually are. The most basic things you will need to cover are to do with payment of rent and how the contract can be broken by either party. If you want to take the property back from your tenant you will need to make it clear the conditions by which you can do this and the amount of notice you will need to give; there will be similar provisions for how they can end the lease.
It is often the small details that later come back to cause irritation with your lease contract. This is why it makes sense to spend some time on the document; preferably with professional advice. You want to cover such things as alterations to the building, uses of your property, and responsibility for repairs.
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