Commercial Lease Agreement with Option to Renew and Right to Make Alterations 2026

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  1. Click ‘Get Form’ to open the Commercial Lease Agreement in our editor.
  2. Begin by filling in the date of the agreement at the top of the form, followed by the names and addresses of both the Lessor and Lessee.
  3. In Section I, specify the purpose of the lease and describe how the Premises will be used. This is crucial for defining expectations.
  4. Proceed to Section II to enter details about the lease term, including start and end dates, as well as rental amounts. Ensure accuracy here for clarity on payment obligations.
  5. In Section IV, outline any alterations you plan to make. Remember that prior written consent from Lessor is required for significant changes.
  6. Complete Sections V through XXIV by detailing responsibilities regarding repairs, taxes, utilities, insurance, and any options for renewal.
  7. Finally, review all sections for completeness before signing. Utilize our platform’s features to save your progress or share it with stakeholders for feedback.

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What is a Right of Renewal? Many tenants that seek to enter into commercial leases will negotiate for a right of renewal. This right of renewal is an option that is granted to the tenant to enter into a new lease with the landlord after the initial term comes to an end. It is not an extension of the existing lease.
Typically, a tenant is required to give written notice of their exercise of the option several months before the current term of the lease expires typically a period of time ending three to six months before expiration of the current term of occupancy.
To be effective, the letter should cover: Names and property details: Full names of landlord and tenant(s), plus the rental property address. Current lease expiration: Clear statement of when the existing lease ends. Renewal terms: Proposed lease length, updated rent amount, and any new rules or changes.
A lease extension option allows the lessee to extend the lease, usually for an amount of time equal to or less than the term of the original lease. Extension options can also provide new lease terms, including a change in the dollar amount of lease payments, among other changes.
Example: This lease renewal agreement, dated [Insert Date], is between [Landlord Name] and [Tenant Name], referring to the original lease agreement dated [Original Lease Date]. Both parties agree to renew the lease for a term of [New Lease Term] commencing on [New Start Date], with a monthly rent of [New Rent Amount].
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(a) Lessee is hereby granted and shall, if not then in default under this Lease, have an option to extend the term of this Lease for an additional twelve (12) months (the Extended Term) on the same terms, covenants, and conditions contained in this Lease, except that the rent to be paid by Lessee to Lessor shall be

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