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Lease Agreement

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COMMERCIAL LEASE AGREEMENT

THIS AGREEMENT made, entered into and executed this day of , 20, by and between (hereinafter called "Lessor") and (hereinafter called "Lessee"). Lessor and Lessee contract and agree as follows:

1. Lessor hereby leases unto Lessee the following land and any improvements thereon:

(hereafter "the leased property").

2. The term of this lease shall be for a primary term of years, commencing on , 20__, and expiring at midnight on , _______, unless extended as provided for herein. This lease can be extended at the end of the primary term for an additional term of years by Lessee giving Lessor notice of his intent to extend the lease thirty (30) days prior to the expiration of the primary term.

3. During the primary term, Lessee shall pay to Lessor, as rental, the sum of Dollars ($.00) per year, in advance, on or before of each year. During any extended term, Lessee shall pay to Lessor, as rental, the sum of Dollars ($.00) per year, in advance, on or before of each year.

4. The leased property may be used for the following purposes and for no other purposes: .

5. (A) Indemnity. Lessor and Lessee shall indemnify and save harmless the other from any and all losses, fines, suits, damages, expenses, claims, demands and actions of any kind resulting from their negligence, breach, or violation or non-performance of any condition hereof.

(B) Insurance: Lessee shall, during the entire term of the Lease keep in full force and effect a policy of public liability insurance with respect to the Property and the business operated by Lessee in the Property and which the limits of general liability shall be in the amount of Five Hundred Thousand Dollars ($500,000.00) combined single limit, naming Lessor as additional insured. Such coverage shall include a broad form general liability endorsement. The policy shall contain a clause that the Lessee will not cancel or change the insurance without first giving the Lessor ten (10) days prior written notice.

Lessor shall during the term hereof, at it's sole expense, provide and keep in force insurance on the building against loss or damage by fire and extended coverage, in an amount equal to one hundred percent (100%) of the full insurable value thereof, which insurance shall be placed with an insurance company or companies approved by Lessor and licensed to do business in the State of . The term "full insurable value" shall mean actual replacement value of the building (exclusive of costs of excavation, foundations and footing below ground level).

The insurance required under this paragraph shall be carried in the name of the Lessor and Lessee and shall provide that any proceeds thereunder shall be paid to Lessor and Lessee and any applicable mortgage holder, according to their respective interests.

Duplicate originals or certificates of insurance of the policies provided shall be furnished by Lessor and Lessee to each other and shall contain an agreement by the insurer that such policy or policies shall not be canceled without at least ten (10) days prior notice to the Lessor and Lessee.

Lessee shall pay all taxes assessed against all personal property located on the premises and shall also pay all privilege, excise and other taxes duly assessed. Lessee shall pay said taxes when due so as to prevent the assessment of any late fees or penalties.

6. Lessee shall pay for all water, electricity, and other utilities used on the premises.

7. (A) Lessor's Repairs: Lessor shall be solely responsible for maintaining the roof, foundation and exterior of the building and all parking areas in good repair for their intended use.

(B) Other Repairs: All repairs, maintenance, replacement or reconstruction to the interior of the portion of the building leased by Lessee, including but not limited to replacement of glass doors and windows and repair of the plumbing, are to be made by Lessee at Lessee's expense. If Lessee fails to make such repairs or replacements promptly or within fifteen (15) days of occurrence, Lessor may, at its option, make such repairs or replacements and Lessee shall repay the costs thereof to Lessor on demand.

8. Lessee will keep the leased property in a clean and wholesome condition and will comply at all times with all lawful health and police regulations.

Lessee shall promptly comply with all of the ordinances of the City of , , or of any other governmental body applicable for said premises and to all ordinances and requirements enforced by the state board of health, sanitary, fire or police departments of the City of for the correction, prevention and abatement of nuisances in and about or connected with the Property because of Lessee's use thereof during the term of this Agreement, all at Lessee's expense.

Lessee shall provide for the removal of its own trash, waste paper, boxes and cartons and shall not permit any accumulation of such materials. Lessee shall not engage in any act which shall constitute a nuisance.

9. If Lessee shall make default in the payment of the rent, or any part thereof or any other sums due under the terms hereof, when due as herein provided, or in any of the other covenants, agreements, conditions or undertakings herein contained, and such default shall continue for thirty days after notice thereof in writing to Lessee, or if (a) any proceeding under the bankruptcy act of the United States is begun by or against the Lessee, and an order of adjudication, or order approving the petition, be entered in such proceedings, or (b) a receiver or trustee is appointed for substantially all of the Lessee's business or assets, or (c) if Lessee shall make an assignment for the benefit of creditors, or (d) if Lessee shall vacate or abandon the leased property, then, and in any such event, it shall be lawful for the Lessor, at his election, to declare the term hereof ended and to re-enter the leased property, and to repossess and enjoy the said premises and any buildings and improvements situated thereon without such a re-entry and repossession working a forfeiture of the rents to be paid and the covenants to be performed by the Lessee during the full term of this agreement. If any default shall be made in any covenant, agreement, condition, or undertaking which cannot with due diligence be cured within a period of 30 days, and if notice thereof in writing shall have been given to the Lessee, and if the Lessee, prior to the expiration of 30 days from and after the giving of such notice, shall commence to satisfy the cause of such default and shall proceed diligently and with reasonable dispatch to take all steps and do all work required to cure such default, then the Lessor shall not have the right to declare said term ended by reason of such default; provided, however, that the curing of any default in such manner shall not be construed to limit or restrict the right of Lessor to declare the said term ended and enforce all of their rights and remedies hereunder for any other default not so cured.

The foregoing provision for the termination of this lease for any default in any of its covenants shall not operate to exclude or suspend any other remedy of the Lessor for breach of any of said covenants, or for the recovery of said rent for the full term, and in the event of the termination or default in any of the terms of this lease as aforesaid.

10. Lessee shall permit Lessor and his agents to enter the Property at all reasonable times for any of the following purposes to inspect the same: (i) to maintain the building in which the said premises are located, (ii) to make repairs to the Property as the Lessor is obligated or may elect to make, and (iii) to post notices of non-responsibility for alterations or additions or repairs.

11. If Property, including improvements thereon, are injured by fire or other casualty, Lessee shall have the exclusive right and option to either terminate this Agreement or reconstruct and/or repair the said damaged improvements and continue this Lease under its terms and conditions as if no such casualty occurred by giving written notice to Lessor of Lessee's intention to so continue this Lease within thirty (30) days after the date of said damage or casualty. In the event that Lessee so elects to continue this Lease, any insurance proceeds payable as a result of said fire or casualty shall be first applied to pay the reconstruction or repair of said improvements, and any balance of such insurance proceeds after payment of said reconstruction or repair shall be paid to whoever owns the insurance policy under which payment is made.

12. If, during the term of this Agreement, the Property shall be taken or condemned, either in whole or part, by competent authorities for public or quasi-public use, Lessee shall have the option to terminate this Agreement as of the date of taking. If Lessee elects not to terminate this Agreement, then this Agreement shall continue in full force and effect.

13. It is understood and agreed that the relationship of the parties hereto is strictly that of Lessor and Lessee and that the Lessor has no ownership in the Lessee's enterprise and the Agreement shall not be construed as a joint venture or partnership. The Lessee is not and shall not be deemed to be an agent or representative of the Lessor.

14. All covenants, conditions and agreements and undertakings contained in this Agreement shall extend to and be binding on the respective heirs, successors and assigns of the respective parties hereto the same as if they were in every case named and expressed.

15. It is further understood and agreed by and between the Lessor and Lessee that, on account of breach or default by either party of any of their obligations hereunder, it shall become necessary for the other party to employ and/or consult with an attorney to give advice, or to enforce or demand any of either party's rights or remedies hereunder, then, and in any such event, the defaulting or breaching party shall pay all attorney fees, court costs and other expenses occasioned by such default(s) or breach(es).

16. Written notice to Lessee, all rent checks and all notices from Lessee to Lessor shall be served or sent to:

Until further written notice to Lessor, all notices from Lessor to Lessee shall be served or sent to Lessee at the following address:

All notices to be given under this Agreement shall be in writing and shall be served personally or sent by United States certified or registered mail.

17. This Agreement contains all of the agreements and conditions made between the parties hereto and may not be modified orally or in any other manner other than by agreement in writing signed by all parties hereto or their respective successors in interest.

18. If any section, paragraph, sentence or portion of this Agreement or the application thereof to any party or circumstance shall, to any extent, be or become invalid or illegal, such provision is and shall be null and void, but, to the extent that said null and void provisions do not materially change the overall agreement and intent of this entire agreement, the remainder of this Agreement shall not be affected thereby and each remaining provision of this Agreement shall be valid and enforceable to the fullest extent provided by law.

19. This Agreement shall be governed by and construed in accordance with the laws of the State of .

WITNESS the signatures of the parties, this the day of , 20.

LESSOR:

LESSEE:

STATE OF

COUNTY OF

PERSONALLY APPEARED BEFORE ME, the undersigned authority in and for said County and State, , who acknowledged to me that he signed and delivered the above and foregoing instrument on the day and in the year therein shown as his act and deed.

GIVEN UNDER MY HAND AND OFFICIAL SEAL, this the day of , 20.


NOTARY PUBLIC

MY COMMISSION EXPIRES:

STATE OF

COUNTY OF

PERSONALLY APPEARED BEFORE ME, the undersigned authority in and for said County and State, , who acknowledged to me that he signed and delivered the above and foregoing instrument on the day and in the year therein shown as his act and deed.

GIVEN UNDER MY HAND AND OFFICIAL SEAL, this the day of , 20.


NOTARY PUBLIC

MY COMMISSION EXPIRES:

Optional Provisions:

ALTERATIONS, TRADE FIXTURES, FINANCING. Lessee shall have the right to make such alterations and improvements to the Property as it deems necessary or desirable upon giving written notice of same to Lessor. Such alterations and improvements shall comply with all applicable construction laws and regulations and shall conform generally with the existing improvements on the Property. The Lessee shall keep the Property free from any and all liens arising out of the work performed or materials furnished in making such improvements.

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What a Lease Agreement Covers

A Lease Agreement is a written contract that establishes the rights and obligations between a landlord and a tenant for the use of real property. It specifies parties, the leased premises, term length, rent amount and schedule, security deposit terms, permitted uses, maintenance responsibilities, utilities, insurance requirements, and default remedies. Leases may also include renewal and termination procedures, dispute resolution clauses, and attachments such as property condition reports or legal disclosures required by state law.

Why a Clear Lease Agreement Matters

A professionally drafted Lease Agreement reduces ambiguity, limits disputes, and records each party’s expectations for payment, repairs, and possession in a legally enforceable format.

Why a Clear Lease Agreement Matters

Who Typically Prepares and Signs Leases

Responsibility for drafting, review, and signature should be assigned based on legal authority and the complexity of the transaction.

  • Property owners and managers preparing standard residential or commercial leases for occupancy and rent collection.
  • Prospective tenants reviewing terms, completing applications, and supplying information such as identification and payment details.
  • Attorneys and title agents reviewing clauses, negotiating modifications, and ensuring state-specific statutory compliance.

Primary Signer Roles

Landlord / Property Manager

A landlord or authorized property manager signs to grant occupancy and accepts financial terms; they must have authority to bind the owner and should record contact and remittance details for enforcement.

Tenant / Authorized Representative

A tenant or an authorized signer for a corporate tenant confirms acceptance of rent, term, and property rules; include legal name, business title if applicable, and contact information to ensure enforceability.

Core Sections Every Lease Agreement Should Include

A robust lease organizes essential legal and operational terms so each party understands rights, payments, obligations, and remedies during the tenancy.

Parties

Full legal names and entity types for landlord and tenant, including contact and mailing addresses and any authorized agents for service of notices.

Premises

Clear description of the leased space, unit identifiers, included amenities, parking allocations, and any limitations on shared areas or common facilities.

Term

Start and end dates, any probationary or holdover provisions, renewal options and the procedures and notice periods required to exercise them.

Rent & Payment

Monthly rent amount, due date, acceptable payment methods, grace periods, late fees, returned-check charges, and where payments should be sent.

Security Deposit

Deposit amount, permitted uses, account handling, interest requirements where applicable, and statutory timelines for return after lease termination.

Maintenance & Repairs

Allocation of repair obligations, landlord access for inspections or repairs, tenant maintenance duties, and procedures for reporting and remedying defects.

Step-by-Step: Completing a Lease Agreement

Follow a consistent sequence to reduce errors and ensure all required disclosures and dates are captured.

  • 01
    Collect party data: Gather legal names, IDs, and contact details before drafting.
  • 02
    Draft terms: Set rent, term, deposits, and responsibilities in clear language.
  • 03
    Review legal requirements: Confirm local disclosure, security deposit, and habitability rules.
  • 04
    Sign and distribute: Execute signatures, provide copies, and retain originals securely.

Configuring an Online Lease Signing Workflow

Set up fields and routing to collect signatures, initials, and required disclosures in the correct order.

Field Configuration
Signature fields Assign to each signer with required date fields
Initials fields Place by each clause requiring tenant initials
Conditional fields Show renewal or pet addendum fields when applicable
Authentication Select email link, SMS code, or stronger verification

Where to Send or File the Completed Lease

A completed lease must be delivered to each signer and stored where both parties can retrieve it; localized filings are rare but may be required for certain leases.

  • To the tenant: Provide a signed copy for their records and move-in purposes
  • To the landlord: Retain original signed lease in property files and accounting records
  • For recordation: Record only when statute or lien requires recorded instrument
  • To third parties: Send copies to guarantors, property managers, or attorneys as needed

Digital Signing and eSubmission Standards

Ensure the platform complies with U.S. electronic signature laws and supports retention and export in standard formats for long-term storage.

  • Document formats: PDF and DOCX accepted
  • Integrations: Connects with CRM and storage systems
  • Authentication options: Email, SMS, or stronger methods

Common Dates and Deadlines to Track

Track key dates to preserve rights and meet statutory timelines for notices, deposits, and renewals under lease terms.

Lease effective date:

The date obligations and rent begin, entered as MM/DD/YYYY.

Rent due date:

Monthly day when rent payment is required under the lease.

Security deposit return:

State-specific deadline for returning deposit after tenancy ends.

Notice to vacate:

Commonly 30 or 60 days for month-to-month tenancies; check state law.

Renewal notice deadline:

Period tenant or landlord must notify intent to renew or terminate.

Key Processing Milestones for a Lease

A sequential view helps manage execution, move-in coordination, and record retention from offer to occupancy.

01

Offer and acceptance

Applicant signs application and landlord accepts, often with holding deposit.

02

Lease execution

All parties sign and date the lease; funds and keys exchanged.

03

Move-in inspection

Document condition with photos or checklist within agreed timeframe.

04

Ongoing compliance

Track rent, repairs, notices, and any amendments during tenancy.

Common Mistakes When Preparing a Lease

  • Using informal or ambiguous language that leaves key obligations vague and invites disputes.
  • Failing to include required state disclosures or statutory notices, which can invalidate enforcement of certain provisions.
  • Mismatched names or unsigned signature blocks that create uncertainty about who is bound by the agreement.
  • Neglecting to set clear notice addresses and delivery methods for termination or cure notices, causing missed deadlines.

Risks and Consequences of Errors

Unenforceable terms: Ambiguity risks invalidating clauses
Statutory fines: Missing disclosures can trigger penalties
Delayed possession: Improper notices can stall evictions
Deposit disputes: Incorrect procedures lead to litigation
Tenant claims: Habitability failures expose landlord liability
Tax issues: Errors in rent reporting affect filings

Essential Data Elements to Include

Tenant name: Full legal name required
Landlord name: Owner or manager entity name
Premises address: Street, unit, city, state, ZIP
Rent amount: Numeric amount and due date
Deposit amount: Exact dollar value for security
Signature date: MM/DD/YYYY format required

eSignature Vendor Comparison for Lease Agreements

Compare core pricing and compliance features relevant to executing leases electronically; signNow is listed first per vendor comparison conventions.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial Yes, 7-day trial Yes, trial available Yes, trial available Yes, trial available Yes, limited trial
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No
Envelope Cap No cap 100 envelopes/user/year Varies by plan Varies by plan Varies by plan

Real-World Lease Use Cases

The following examples illustrate how online lease execution supports different stakeholders and scenarios.

Optica Ventures

Optica used online leases to accelerate tenant onboarding

  • rapid eSign workflow reduced turnaround time
  • The simple interface made execution and distribution straightforward for property staff and tenants, improving operational consistency across multiple properties.

Martin Properties

A small landlord moved leases online to avoid in-person signings

  • mobile signing enabled off-site closings
  • With secure mobile and offline signing, the owner could complete leases remotely while maintaining compliance and document integrity.

Practical Tips for Accurate Lease Completion

Adopt consistent practices to reduce errors and improve enforceability across leases.

Standardize templates and clauses
Maintain approved template language for rent, default remedies, and disclosures so every lease is consistent and state-compliant; update templates when laws change.
Verify signer authority
For corporate tenants, confirm corporate resolution or officer authority; for individuals, check government ID to match contract names.
Record notice procedures
Specify delivery methods and addresses for notices to ensure legal service and avoid disputes over missed deadlines.
Preserve audit trails
Use an eSignature platform that captures timestamps, IP addresses, and action logs to support enforcement and evidentiary needs.

Frequently Asked Questions About Lease Agreements

Answers to common concerns about signing, witnesses, notarization, amendments, and records for lease agreements.


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