Texas Commercial Lease Agreement Form
The Texas Commercial Lease Agreement is authoritative paperwork planned and developed between a proprietor and an inhabitant for the commercial lease of a property. This agreement will, in general, be more confounded than a private arrangement. As a rule, it must be haggled between the landowner, the tenant(s), and their separate lawyers to guarantee that the document’s money-related part remains stable upon renewal.
One should be sure that the inhabitant is completely satisfied with the arrangement before signing the rental agreement. When all negotiations are finished, and the document is signed, notarial verification will be needed to complete the agreement procedure.
Texas bill of sale templates – this section will allow you to know more about other bills of sale useful in Texas.
It is important to mention that the Texas Property Code covers the rental of business property. This part does not explicitly name any disclosures that must be given when leasing such property. Notwithstanding, some matters might be needed to be included, for example:
1. Arbitration of Disputes
The Texas General Arbitration Act makes it workable for some civil complaints to be solved via arbitration. If you see arbitration anywhere in your rent, you should likewise incorporate an Arbitration of Disputes disclosure. After both parties sign the document, this form will approve arbitration, and the results will be binding for every part of the deal.
2. Notice of Water Fluctuation.
If your business property is any kind of water source under the Texas Water Code, you should think about a Notice of Water Fluctuation disclosure. A Notice of Water Fluctuation disclosure informs inhabitants about the potential flood or water harm.
3. Lead-Based Paint Disclosure.
When leasing a business building founded before 1973, the Environmental Protection Agency (EPA) requires landowners to give a Lead-Based Disclosure Form. The EPA gives this document on their official site.
How to Fill Out the Texas Commercial Lease Agreement
Furthermore, to fill out the commercial lease agreement in Texas, you can use our form-building software to ensure the best results:
- List all parties of the deal. Name both Landlord and Tenant(s) concerned. Fill out the empty spaces with the state, date, and address.
- In part about the description of Leased Premises, describe the number of square feet that a Landowner provides to rent, the location of the property, and the type of space being leased.
- Then, describe the section of Use of Premises by detailing the intended use of the leased property.
- In the section about the Term of Lease, enter the tenancy duration in months and years. Fill out the date of entering the deal and the day of expiration of the deal.
- The Base Rent segment discusses the monthly charge that should be paid. Fill out the sum in dollars. Do not forget to enter the day on which the Tenant will have to pay the monthly sum.
- In the Option to Renew, the renewal of the monthly payment strategy is discussed. One will have to read the given information and tick one suitable option given.
- The following part is about the Expenses. Firstly, one will have to check and initialize if it is the lease gross, modified gross, or triple net (NNN). Choose the needed option and fill out the empty spaces.
- In the Security Deposit segment, you can list the sum of the security deposit in dollars. Occupants should know that they can retain a certain amount of the Security Deposit to cover back lease or harms.
- Leasehold Improvements. Maintenance and repair are a landowner’s responsibility. Ensure that your inhabitant understands who is responsible by confirming everything and expressing that the leaseholder will cover the cost. Additionally, fill out the cases in which the Tenant is responsible for the payment.
- Carefully read and acknowledge parts about the Licenses and Permits, Obligations of Lessee, Insurance, Sublet or Assignment, Damage to Leased Premises, Indemnification, Bankruptcy, Subordination, Estoppel Certificate, Holdover, Waiver, Amendment, and Governing Law.
- The segment about Default and Possession includes information about the features of the lease term. Fill out the number of days after which one will have to pay the payment penalty. Tick the box with the payment method (late fee or percent per annum on a daily basis).
- In Miscellaneous Terms, one should read and acknowledge the information about various features of the lease. In the Signs section, indicate that one shouldn’t place anything on their windows or outdoor walls without the approval of the filled out Municipality form.
- In the Notices segment, list the lessors to whom the payments and notices must be addressed.
- In the last part about the Binding Effect, enter that the date of the agreement has been witnessed. Do not forget to fill out the Acknowledgment of the Notary Public Section. In the notation verification and signatures part, note that all business lease agreements should be endorsed by both the proprietor and inhabitant. Do not forget to fill out the empty spaces.