West Virginia Commercial Lease Agreement | PDF – MS Word
A West Virginia commercial lease agreement is a legal document with which a landlord agrees to lease commercial property to a tenant in exchange for monthly payments. The tenant may be an individual or a business entity, that intends on using the property for retail, industrial, or office purposes. In most cases, the landlord will renovate the rental space to be functional for the tenant’s business. Most commercial leases will have a term of three (3) to five (5) years and it is therefore often required that an extensive credit check of the tenant and their business is conducted before they are approved to rent the space. Property expenses can be handled using one (1) of the following three (3) arrangements:
- Triple Net (NNN) Lease Agreement – In addition to monthly rent, all property expenses are paid by the tenant.
- Gross Lease Agreement – Landlord pays all property expenses and tenant pays monthly rent.
- Modified Gross Lease Agreement – Tenant pays monthly rent in addition to a portion of utilities and other expenses.
Business Entity Search – Business entities in West Virginia may be verified using this webpage that is provided by the Secretary of State.