Updated October 11, 2023
An Ohio commercial lease agreement is a legal document that is negotiated and written between a lessor and lessee for use of a commercial rental property. The agreement outlines all the terms and conditions of the lease, including its duration, rent amount, security deposit, option for renewal, and more. Commercial leases, in most cases, are lengthy and more complicated than residential leases. The terms, however, can be negotiable and will often vary significantly from the initial lease agreement to the next. Once signed by both parties, it becomes a legally binding contract that is enforceable in a court of law.
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