Iowa Commercial Lease Agreement – PDF Template
The Iowa commercial lease agreement is for any property that is used for retail, office, or industrial purposes. This type of agreement should be reviewed by an attorney as there is usually more money involved than with a residential lease agreement. Most commonly, the landlord will have to provide a space with a minimally finished interior (called a ‘vanilla box’) for the space requested. The standard commercial lease is three (3) to five (5) years but any duration may be agreed upon. It is advised that the landlord accept a personal guaranty from the lessee in the chance this is a new business. By doing this, the owner may pursue the individual’s personal assets in return for the rent that went unpaid if the tenant goes out of business and defaults on the lease.