A commercial landlord is someone who leases or rents commercial property to a tenant via a lease agreement. The landlord is bound by certain duties by law. These duties include performing all the terms of the commercial lease agreement.
Commercial landlord-tenant rights are decided upon during commercial lease negotiations. For example, whether the landlord or tenant is responsible for building repairs is negotiated during this time. Other terms decided during a commercial lease negotiation include:
- How long the tenant will occupy the building or space
- Amount of rent the tenant pay and when payment is due
- An option to renew the lease
- What happens when the lease is terminated before it expires
- What happens when tenants make improvements to the building
- Whether subleases and assignments are acceptable
A sublease is a contract between a tenant and another party to rent the space. The old tenant leaves and the new tenant takes all the rights and responsibilities of the old tenant. It is usually for a short time.
An assignment is like a sublease contract. The different is in the time limit. The new tenant assumes the right of the old tenant’s commercial lease.
Specific rights of a commercial landlord vary from state-by-state. However, there are some general rights all commercials landlords have. These rights include:
- Receiving rent at the agreed upon time
- Enforcing all the terms of the lease
- Requiring a lessee to maintain the premises in such a way that no injury is done to it
- Receiving possession of the premises after the lease expires
- Receiving a security deposit from the lessee
- Suing for lessee for breach of contract
Obligations exists for both landlord and tenants regarding commercial leases. To learn more about commercial landlord rights, contact a real estate attorney. An attorney will guide you through negotiating a lease and any breach of contract disputes.