When searching for potential commercial sites and before signing the lease, you should check all these empty surfaces to determine their suitability. You should also review the zoning authorization documents to make sure that you can actually perform this operation on the site. Once you have these details and are sure of the fit of the space, grasp the exact dimensions of the space – inside and out. You can request architectural drawings to make sure you have the exact dimensions and also to confirm that the premise offers all the necessary amenities. The lessee has the right to transfer this lease to a company with which the lessee may merge or consolidate, without the consent of the lessor, to a subsidiary of the lessee, to a company under common control with the lessee or to a buyer for the bulk of all the tenant`s assets. With the exception of the foregoing, the lessee may not sublet all or part of the rented premises or assign all or part of this rental agreement without the agreement of the lessor, without such consent being inappropriately refused or delayed. C. Tenants and lessors maintain at their own expense one or two comprehensive general liability insurance policies in respect of each other`s respective activities in the building, the premiums being paid in full on or before the due date, issued and binding on an insurance company approved by the lessor, such insurance to obtain a minimum coverage of at least USD 1,000,000 of combined individual coverage for bodily injury to be offered. Property damage or combinations. The lessor is mentioned as an additional insured in the tenant`s policy or in the comprehensive general liability insurance policies, and the lessee must provide the lessor with the current insurance certificates that attest to the tenant`s compliance with this paragraph. The tenant must obtain the agreement of the tenant`s insurers to inform the landlord that a policy must expire at least (10) days before. The lessor is not required to maintain insurance against theft inside the rented land or building.
A commercial lease in Oklahoma is a legally binding document drawn up between a real estate owner or owner and a legal or individual person who plans to use the aforementioned commercial property for business. In exchange for the rights to use the commercial property, the landlord receives rent and may also have to pay the expenses of the property. This contract is also called a commercial real estate lease or a business lease agreement. How long would you like to rent the property? Do you need or not a lease that has the possibility to renew it? Do you prefer a short-term lease or a long-term lease? The lessor wishes to rent the rented premises to the tenant, and the tenant wishes to rent the premises rented by the lessor for the duration, at the time of the rental and the agreements, conditions and provisions set out therein. .