Updated on September 28th, 2021
A New York commercial lease agreement is a rental arrangement conveyed in a written contract that dictates the rights and obligations of the parties to a commercial rental property. Commercial leases are reserved for renting out real estate that will be used by an individual or business entity for the purposes of conducting business, such as a shopping outlet, manufacturing or fabrication factory, office space, or shipping warehouse.
Due to the diversity of properties and businesses, commercial lease agreements can be more complicated than residential agreements. Owners of property and the businesses they rent to will often hire attorneys and commercial real estate agents to help establish a fair rental agreement and negotiate the terms of the arrangement.
Lease Application – A document used to gather pertinent information on potential commercial lease applicants so the landlord can find the most suitable tenant.
Laws – Not mentioned in state statutes; however, New York City does provide a Comprehensive Guide to Commercial Leasing.