Updated May 17, 2022
A Delaware commercial lease agreement is a legally binding contract between a business tenant and a landlord of a commercial property, such as a storefront, office, or warehouse. The document outlines the terms and conditions of the lease agreement, including the duration of the lease, rent amount, security, subleasing, penalties for late payments, and more. Compared to residential leases, commercial leases tend to have a much longer duration, averaging around five to 10 years. Additionally, because many consumer protection laws do not apply to tenants of commercial leases, it is highly recommended that an attorney review all the provisions in the contract before it is finalized.
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