Delaware Commercial Lease Agreement | PDF – MS Word
A Delaware commercial lease agreement establishes a landlord-tenant relationship between an individual or entity and an owner of commercial property. The parties will use the agreement to set forth the rental conditions, including the contract term (length of lease), monthly rent, and the frequency of payments. Also to be negotiated in the contract is whether the document will be a triple net (NNN), modified gross, or gross lease arrangement. These options will decide whether the tenant will be responsible for paying all expenses associated with the use of the property (e.g., electrical, heating, plumbing), a portion of the property expenses, or none of the expenses at all. The landlord will usually require a thorough credit check on the tenant to confirm that they can afford the rent payments.
Delaware Business Entity Search – In addition to running a background check, the landlord may want to verify the business status of the applicant (if an entity) by searching their credentials on the Secretary of State’s website.