New York Commercial Lease Agreement
The New York Commercial Lease Agreement gives a property owner or landlord a means of entering into a legally binding relationship with a tenant who will be renting a property with the intent of moving a retail, office, entertainment, hotel, or other business-focused operation into it. Commercial lease contracts typically range from three (3) to five (5) years, and as long as ten (10) years for retail properties, although any length of time can be negotiated. Unlike residential tenants, commercial tenants rights are solely those that are contained within the lease; landlords typically draft the agreement, and thus, they include conditions that suit their needs and preferences. Having a licensed NY realtor aid in the negotiation of the terms of a lease can provide as very helpful – especially if the tenant is a first-time commercial renter.