Minnesota Commercial Lease Agreement Template – PDF – Word – RTF
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 may be a given number but is usually 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, typically the landlord will require lease more than one (1) year and commonly is at least three (3) to five (5) years. There is 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 the landlord perform a detailed analysis of searching the business entity’s record both at the State level through a credit check. If the business is new or just starting, the landlord should get a personal guaranty to make sure that if the business fails that the individual is still liable to make payments every month.
- Tenants looking to sublease can download the agreement here