Minnesota Commercial Lease Agreement Template – PDF – Word
The Minnesota commercial lease agreement is for any entity or individual that would like to rent space (retail, office, or industrial) for business use. Rent can be decided by the property owner/landlord, however, it is often set on a price per square foot ($/SF) basis as every tenant usually requires a different fit up and custom layout. Due to the costs incurred by the landlord with creating the space, the lease term will often be more than one (1) year and, more commonly, three (3) to five (5) years. There are usually annual escalations that are negotiated or based on CPI (Consumer Price Index) to match consumer goods purchased by households. It is highly recommended that, if the business is new or just starting, the landlord obtain a personal guaranty to make sure that if the business fails, the individual is still liable to make payments every month.
Minnesota Business Entity Search – The offices of the Secretary of State provide an online portal to look up businesses registered within the State.