Commercial Letting

Commercial letting is little bit different than the other two lettings short term and long terms here we have to follow certain rules while letting a commercial space, like others we do have an agreement for the commercial letting which is carefully executed. A lease agreement is a legal document stating all the details and terms and conditions about the renting arrangement. The agreement covers all the aspects of the property and about the components other than the rent, like property tax, maintenance charges, insurance and expenses towards common areas. We deliberately gave full consent to the tenants at times, if they need to carry out renovations or make improvements to the premises, for running the business. A lease tenure lasts for one or two years will give the flexibility, especially if you have a small business, to move out for expansion purposes or to better location, when required. However, there must also be a clause to renew the agreement, after the first one or two years, at the same rent or a hike that is mutually agreed upon. There will be a fixed amount that you have to deposit with as security. This security deposit will be a multiple of the monthly rent and is usually the equivalent of two- or three-months’ rent.