Rent Agreement Services for Commercial Properties – A rise in infrastructure development, especially in big cities has led to an increased dependence on renting commercial properties. Many landlords and tenants are choosing to draft a commercial rental agreement to safeguard their rights and avoid any disputes in the future. However, drafting a commercial rental agreement may not be as simple as it sounds and requires the assistance of experts. You can connect with Gupta Document Center for premium Rent Agreement Services for Commercial Properties in Chandigarh, Mohali, and Zirakpur.
Most people rent a commercial property for an entire building, a new restaurant, a simple office, an independent retail store, or even an excellent warehouse for manufacturing purposes like a self-storage facility or factory. At Gupta Document Center we have a team of expert attorneys that offer the best Rent Agreement Services for Commercial Properties in Chandigarh, Mohali, and Zirakpur. This blog will thoroughly discuss the commercial rental agreements and all the frequently asked queries such as where should disagreements be controlled, and which laws should be governed among many others.
Common Uses of a Commercial Rental Agreement
A commercial rental agreement is a legal document that binds a landlord and a tenant in a mutual contract for renting a property for commercial purposes. The main purpose of this rental agreement is to formalize the rental and the relationship between a landlord and a tenant. A commercial rent agreement claims that the subject property is being used for business or some commercial purpose, unlike a residential rental agreement.
Renting a commercial property requires a big investment, emphasizing the importance of legalizing the mutual contract between the landlord and the tenant. A rental agreement for commercial purposes can be used to shelter a diverse array of rented spaces such as:
- Hotel and Guesthouse
- Medical Clinic or Healthcare Facility
- Accounting Firm
- Child Care Facility
- Warehouses
- Trade Businesses
- Startup Companies
Important Documents to Draft Commercial Rent Agreement
To draft a rent agreement several legal documents are required. Without proper documentation, it is impossible to draft a commercial rental agreement. However, you can save your time and effort by connecting with the Gupta Document Center, where our experts will take care of all the documentation and draft your commercial rental agreement. The list of documents required for drafting a commercial rental agreement is given below:
- Two recent passport-size photographs
- Any government issues ID proof, Aadhar card or receipt received
- Original passport if not Indian
- Power of attorney if the ID is showing another person for the registration
- If there are any articles of association, the memorandum of affiliation
- Association of the individual’s comprehension, if any
- Bonds and, if applicable, dealership proofs
- Agreements regarding shareholders and listing, if any
- Proof and the type of business establishment
Key Elements of Commercial Rental Agreement
To make any commercial agreement legally acceptable it shall comprise of many key elements. The commercial rent contract allows the landlord and the tenant to enter a legally binding agreement and formalize their rental arrangement. Some of the crucial key elements in a commercial rent agreement are given below:
- The individual who rents out the commercial property in exchange for money is called a landlord.
- The tenant is the person who takes the property on rent and is responsible for paying the rent and running the business is the renter.
- The period or length of time that the property will be rented for is called term.
- The entire space of the landlord including any shared common spaces, is called the real property. This may also comprise land areas that other tenants will use, like parking lots and walkways.
- The minimum rent is the amount you pay for the space for the first year or month.
- The demised assertion is the area rented out by the tenant including the property map and information on the size of the property.
- The amount given to the landlord as a promise to not end the contract prematurely is known as a security deposit.
Benefits of Drafting a Commercial Rent Agreement
Drafting a commercial rent contract serves a multitude of purposes and offers a myriad of benefits. The rental agreements for business purposes not only safeguard the mutual interest of the landlord and the tenant but also encourage professional partnerships. With the assistance of an expert attorney at the Gupta Document Center, you can easily draft your rental agreement for commercial purposes.
In a time when renting a property has become a norm it has become crucial to legalize the commercial rent agreements. With a commercial rental agreement, there is no need for a mortgage and hypothecation. The range of benefits that drafting a commercial rental agreement is mentioned below:
- Helpful in maintaining a professional partnership between the landlord and the tenant.
- Provide legal security for a contract involving valuable assets.
- Allow the landlord to obtain cash without investing money in the asset.
- No requirement for a mortgage or hypothecation.
- Strengthens the relationship between the landlord and the tenant.
- Benefits the landlords by covering unforeseen costs.
Choose Gupta Document Center for the Best Rent Agreement Services
Getting your commercial rent agreement can be puzzling if you have no knowledge about the legal terms and procedures. Gupta Document Center is among the best rent agreement services providers in Chandigarh, Mohali, and Zirakpur. Our professional and expert attorneys have years of experience in drafting commercial rent agreements as per the laws of your respective jurisdiction. Our lawyers can help you with proper registration which may become difficult to manage on your own.
Hiring a commercial rental agreement lawyer is the right decision to draft a commercial rental agreement for shops, medical and healthcare facilities, startup companies, and other business ventures. The wide array of benefits you can enjoy by connecting with Gupta Document Center are mentioned below:
- Well-aware of all the legal implications involved in getting the commercial rent agreement legally verified.
- Helps to avoid any disputes or misunderstandings in the future.
- Takes care of all the intricacies and documentation required for drafting a commercial rental contract.
- Follow an ethical and professional approach in drafting the rent agreement for commercial purposes.
Reach Us At!
Gupta Document Center is an all-time destination to get all your legal work done in time. To get information about Rent Agreement Services for Commercial Properties in Chandigarh, Zirakpur, and Mohali reach us at the contact details mentioned below:
Email:- Guptadocumentcentre183@gmail.com
Call Us:– +91-7888700485