The lease agreement is a long-term commitment necessary for the proper functioning of a business. This document is not required by law. However, it is recommended to serve as a guarantee if needed. It should be drafted by a notary or a lawyer. Let’s examine in this article how to draft this lease agreement.
The content of the lease agreement
A lease agreement must contain a number of essential elements. These essentially include:
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- the address and personal details of all the parties involved in the lease agreement. This includes the landlord as well as the tenants;
- the amount of rent (it must be real, serious, and in line with market prices) and the terms of rent payment. The contract must also specify the indexing clause by indicating the date and the revision index;
- the duration of the lease agreement. This is a necessary clause in a commercial lease agreement. For this purpose, the minimum duration of a lease agreement is 9 years. This represents a long-term commitment, beneficial to the tenant. However, it is possible to set a shorter duration for the contract. In this case, it is referred to as a derogatory lease, which cannot exceed 3 years. The downside in this case is that the tenant does not have a long-term commitment, which is rather risky for their business.
- the amount of the security deposit;
- the purpose of the commercial lease. This refers to the activities that can or cannot be carried out in the premises, the intended use of the premises. The layout of the rooms in the premises must therefore allow for the installation and operation of the commercial activity.
The effective drafting of the commercial lease agreement
The first point on which the drafting of a lease agreement is based is the capacity of the parties to enter into a lease. This is followed by the object as well as the clauses of the contract. Consequently, the obligations of the tenant and the landlord must absolutely be included during the drafting of the contract:
- the main obligations of the landlord include, among other things, making the rented commercial premises available to the tenant, ensuring perfect enjoyment as well as the safety of the rented premises, and maintaining the premises in good condition;
- The main obligations of the tenant essentially consist of paying the rent in full compliance with the deadlines set by the landlord, using the rented premises conscientiously, and respecting the purpose set out in the lease agreement.
The renewal of the commercial lease agreement
When your lease expires, three options are available to you. The first is the renewal of your lease under the same terms. In other words, a right of renewal is automatically granted to the tenant at the end of the lease.
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Additionally, the landlord may offer you a lease with a shorter duration. But in this case, they must notify you at least 6 months in advance.
Ultimately, the drafting of a commercial lease agreement must comply with current standards. Therefore, it must contain certain mandatory elements.