Updated September 15, 2022
A Virginia commercial lease agreement is a legally binding agreement between a landlord and tenant for the rental of commercial property, such as retail, office, or industrial space. The agreement contains all the terms and conditions of the arrangement, including rent price, lease term, security deposit, and option to renew. Once signed by both parties, the agreement is considered a legally binding contract that can hold either party liable for any breach of contract. Due to the complexity of commercial lease agreements, it is highly recommended that a legal professional review the document before it is signed and notarized.
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