Arizona Commercial Lease Agreement Template

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The Arizona Commercial Lease Agreement is a written document which presents the agreement between a landlord and a business and acts as a contract once signed. The State of Arizona has specific laws governing commercial leases in several areas (i.e. zoning, taxation, etc.). These laws must be represented in a written rental contract between the business and the landlord where necessary. By utilizing a standard agreement that is in compliance with these laws each party may hold a level of assurance that the other has signed a legal contract verifying its position and responsibilities.

Both parties should make sure they have reviewed each of the terms defined in the contract. Once this contract has been signed and dated, it will be enforceable in a court of law while it remains in effect. There may be some exceptions if one of the parties has broken the law however, this would need to be determined in the courthouse. It is generally a wise idea to have the contract reviewed by an attorney.

How to Write

Step 1 – The first paragraph of this agreement will require some very basic information to define the lease and parties involved. Enter the current day, month and year. Next, enter the name of the acting landlord with his/her street address and state. Finally enter the name, address, and state of the lessee.

Step 2 – The next paragraph will be the “Description of Leased Premises.” Here the physical address along with a detailed description of the space being rented must be reported.

Step 3 – The third paragraph is the second item on this agreement (“Use of Leased Premises”). Here, a description of what the business will be using the rented area for must be reported. This should be as specific as possible.

Step 4 – The “Term of Lease” paragraph will require several spaces to be filled. The first line will require the number of years and months the lease will be in effect be written (spelled out then numerically in the parentheses). The starting day, month and year the lease begins then the day month and year of the day the lease ends must be entered.

Step 5 – The “Option to Renew” paragraph is composed of two checkboxes. The first gives the option to renew and must have how long the extended term is filled in. The second choice is simply if that option is not available for that tenant. This must be determined before the signing of the lease.

Step 6 – The “Rent and Expenses” is one of the most vital parts of this document. The expected rent amount should be written out and then entered numerically within the parentheses.  The next area will also be composed of three choices. This may be considered a “Gross Lease,” “Modified Gross Lease,” and “Triple Net (NNN) Lease.” Check the applicable lease type at the top of the appropriate choice. Both the Landlord and Lessee must initial the marked checkbox. If this is a modified gross lease the expenses relating to the agreement must be detailed for both lessor and lessee. If this is a Triple Net (NNN) Lease, insurance terms must be entered.

Step 7 – The “Security Deposit” paragraph will require the amount of security the Landlord requires for the rental. After writing it in the first space it must be input numerically in the parentheses.

Step 8 – The “Leasehold Improvements” will require what the lessee will not be required to pay for (in terms of improvements the lessee makes).

Step 9 – The “Default and Possession” paragraph will deal with the results of a lessee who has failed to pay on time. The first piece of required information will be the number of days that a lessee has as a grace period. The following area of this paragraph gives a choice of either paying an interest rate when late (the rate must be filled in) or a late fee amount (the amount of which must be entered. Only one of these choices may be checked.

Step 10 – Under the “Miscellaneous Terms” section, the municipality must be entered in the second item.

Step 11 – The “Notices” paragraph requires the full name and contact information of the lessor and lessee in their respective areas. This will be the contact information used in the even a notice must be sent to either party from or concerning the other party.

Step 12 – The final section will be the “Binding Effect” section.  The day, month, and year should be entered in the second paragraph. Directly below this the lessor and lessee will need to sign and print their names.

Step 13 – If there is a “Notary Public” (there should be), this area’s information will be entered by that notary.

 


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