Iowa Commercial Lease Agreement | PDF – MS Word
An 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, especially if the tenant has started a new business. By requiring a personal guaranty, the owner may pursue the individual’s personal assets in return for the unpaid rent if the tenant goes out of business and defaults on the lease.
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