They primarily outline the responsibilities, terms, and conditions of managing a commercial property.
This page offers a customizable and comprehensive commercial property lease agreement template that you can download, edit, and adapt to suit your specific needs. Whether you are an owner or a manager needing a commercial rental agreement template or a business seeking a business lease agreement template, our downloadable document serves as an effective tool in simplifying the process.
Remember, a well-drafted contract can be instrumental in preventing miscommunication and clarifying expectations in any commercial real estate transaction.
1. Parties to the AgreementThis Agreement is entered into this ________ day of ________, 20____, by and between ______________________ (hereinafter “Owner”), and ______________________ (hereinafter “Manager”).
2. Property DescriptionThe Property to be managed by Manager is located at ______________________, together with any personal property located thereon (collectively, the “Property”).
3. Term and TerminationThis Agreement shall commence on ______________________ and continue until ______________________ unless earlier terminated according to the terms herein.
4. Manager’s ResponsibilitiesManager shall use its commercial reasonable efforts to manage and operate the Property. This includes, but not limited to, marketing the Property, selecting tenants, collecting rents, and maintaining the Property.
5. Owner’s ResponsibilitiesOwner shall provide all necessary information and support to the Manager for the effective management of the Property. This includes, but not limited to, necessary financial support, and accurate information about Property.
6. Fees and CompensationFor the services rendered by Manager, the Owner will pay Manager a management fee equal to _____% of the monthly gross rental revenue.
7. IndemnificationThe Owner agrees to indemnify and hold the Manager harmless from any and all claims, damages, costs, and expenses arising from the management of the Property.
8. InsuranceThe Owner shall maintain sufficient insurance coverage on the Property, including but not limited to, liability insurance, casualty insurance, and property damage insurance.
9. Dispute ResolutionAny dispute arising out of this Agreement shall be resolved through mediation. If mediation is unsuccessful, the dispute shall then be resolved through binding arbitration.
10. Compliance with LawsBoth parties agree to comply with all local, state, and federal laws applicable to this Agreement and the Property.
11. AmendmentsThis Agreement may be amended only by a written agreement signed by both parties.
12. Governing LawThis Agreement shall be governed by and construed in accordance with the laws of the state of _______ .
13. Entire AgreementThis Agreement contains the entire agreement between the parties, superseding in all respects any and all prior oral or written agreements or understandings pertaining to the management of the Property.
14. SignaturesOwner: ______________________ Date: ______________________
Manager: ______________________ Date: ______________________
Note: This is a basic commercial property management agreement template. It must be customized to meet the specific needs of your situation. Always consult with an attorney before using a legal document.
Other Useful ContractsIf you’ve found the Commercial Property Management Agreement Template beneficial, you might also be interested in related templates that could further assist your property management needs.
For instance, if you are managing retail spaces, the Retail Space Lease Agreement Template would be incredibly useful. This resource provides a comprehensive layout of terms and conditions for a retail lease, ensuring both parties are well-protected. It covers critical elements like rent details, lease term, and tenant’s right to leasehold improvements.
Additionally, if you manage locations that house businesses in the service industry, the Restaurant Lease Agreement Template stands as a highly recommended tool. This is a specialized lease agreement covering all bases from equipment maintenance, hours of operation to dispute resolution processes.
On the other hand, if you are dealing with leases for commercial sublets, our Commercial Sublease Agreement Template can greatly ease the process. The template guides you through creating an effective and legally sound sublease contract.
Last but not least, if you’re overseeing an industrial park property, the Industrial Park Lease Agreement Template is just what you need. It helps to establish clear guidelines on everything from rent payment to security deposit handling and maintenance responsibilities. These targeted templates can be highly beneficial for anyone involved in commercial property management, offering legal protection and clear communication between the parties involved.