Master Lease Agreement Sample

02 nov. Master Lease Agreement Sample

When it comes to commercial real estate properties, a master lease agreement is a legally binding contract that allows a tenant to lease a property from the landlord and sublease it to other tenants. This agreement gives the tenant the right to control and manage the property while still being responsible for paying the landlord rent and maintenance costs.

If you are looking to create a master lease agreement for your commercial property, it is essential to have a sample agreement that you can modify to suit your needs. Here is a master lease agreement sample that you can use as a basis for creating your own agreement:

1. Parties involved: This section should include the names of all the parties involved in the agreement, their addresses, and their contact information. This section should also indicate whether the property owner is an individual or a corporation.

2. Description of the property: This section should describe the commercial property being leased, including its address, size, and condition. The agreement should specify what the tenant is allowed to use the property for and what type of business activities are permitted.

3. Term of the lease: This section should specify the duration of the lease, including the start and end dates. It should also indicate whether the lease is renewable and under what conditions.

4. Rent and fees: This section should specify the rent amount and when it is due. It should also indicate whether the rent is fixed or subject to periodic increases. Additionally, this section should outline any other fees, such as maintenance costs, that the tenant is responsible for paying.

5. Security deposit: This section should specify the amount of the security deposit that the tenant is required to provide, as well as the conditions under which it will be refunded.

6. Maintenance and repair: This section should outline the responsibilities of both the tenant and the landlord regarding the maintenance and repair of the property. It should specify which party is responsible for routine maintenance and repairs and how major repairs and replacements will be handled.

7. Insurance: This section should indicate whether the tenant is required to obtain insurance for the leased property and what types of insurance are necessary.

8. Default and termination: This section should outline the conditions under which either party can terminate the lease. It should also specify what constitutes a default and what remedies are available to the parties in the event of a default.

9. Dispute resolution: This section should specify how any disputes between the parties will be resolved, including whether arbitration or litigation will be used.

10. Miscellaneous provisions: This section should include any other provisions that are unique to your agreement, such as a non-compete clause or a provision regarding the use of the property for hazardous materials.

By using this sample as a basis for your master lease agreement, you can create a legally binding contract that protects the rights and interests of both the tenant and the landlord. Remember to consult with a legal professional before finalizing any agreement to ensure that it complies with all relevant laws and regulations.