An office space lease contract is an agreement between two parties i.e., the lessor or owner of office space and the renter for a specific period. It is a legally binding contract that makes two or more parties responsible for following the terms and conditions of the agreement. This contract is for a limited period and can be renewed if both parties agree to its renewal.
Following the lease contract, detailed instructions are mentioned to make sure that both parties understand the situation. In case of disagreement, resolution statements are also a part of the official contract. If any party does not follow the contract, the remaining parties are allowed to take legal actions against them or prosecute them in a court of law.
Contents of the agreement
Contents of different forms of a lease are different and depend on the involved parties. Terms and conditions are mutually agreed upon by all parties and every party tries to save themselves from any major outbreak or loss.
Office space lease contracts mostly include conditions about,
- Security deposit
- First rent payment
- Date of payment
- Date of rent payment for each month
- Increase in rent
- Mode of payment
- The time period of the lease (from months to years)
- Allowance of family or friends stay
- Exceptions provided by the owner
Terms and conditions protect both the rights of renters as well as owners therefore, contracts are put in place because people have high regard for them.
Sample Agreement
Office Space Lease
This contract is being commenced between Mr. ___________ (Owner) and Mr. ___________ (Renter) on date __/__/__ regarding office space at ___________ (address).
Terms and conditions of the office space lease contract are given below,
- The lease for office space is commenced for a period of two years.
- The renter shall pay a 25% security deposit before setting up office space.
- The security deposit will be returned after the renter has agreed to vacate the office.
- Any damage or loss to the office space will be compensated by the security deposit.
- Rent for the first month shall be paid to the landlord with a deposit.
- Rent for the following months shall be paid on the 5th of every month.
- Landlord shall not disturb the renter till the 10th of the month if he has not been able to pay rent.
- Renters are not allowed to turn office space into a home by sleeping there.
- The designated space will only be used as an office, any other use will not be allowed by the landlord.
- Maintenance and cleanliness of office space are the responsibility of the renter.
- In case of major issues or outbreaks, the renter shall take the landlord in confidence before handling the situation.
- Renters are not allowed to entertain any convicts at their office.
- In case of any unlawful activity, the landlord shall inform the police immediately.
- All the bills of office i.e., electrical, gas and water shall be paid by the renter before the due date.
- The renter shall notify the landlord a month before they will vacate the space.
- The renter shall notify the landlord of the lease renewal.
- Landlord shall not investigate or entertain any guests of renters to inquire about any matter.
