A landlord of commercial premises in New Jersey requires a New Jersey Commercial Lease Agreement to enter into tenancy contract with the tenant. This 7-page legal instrument has 30 sections comprising of the tenancy terms and conditions. Please review them carefully and prepare this document together as various inputs are required from the tenant as well as the landlord. Notary acknowledgement of signatures is not necessary. Please do not use this document template for leasing a residential property of whatsoever type as this document is suitable only for renting commercial premises to any individual, corporation, or similar entity. In addition, the landlord may require a duly filled Rental Application Form from the tenant for evaluation of the eligibility. The landlord in addition, may demand the application processing fee. This contract is revocable before the term ends only upon serving a 30-day notice by either of the parties.
Steps to Prepare New Jersey Commercial Lease Agreement
- Begin by entering the date of execution of the lease agreement in the required format.
- Then enter the name of the landlord and the tenant on the respective lines. A tenant may choose to enter a name of a corporation or similar entity. However, the tenant must file a proof of being an authorized signatory.
- Provide the physical address of the property on the next line.
- Then enter the legal description of the property. You may choose to refer the plans while providing legal description.
- Enter the suite number of the property on the next line. A suite number is necessary to identify the property.
- Term: Enter the dates of the commencement and natural termination of the lease on the respective lines. Please specify the renewal term for months or years as applicable.
- Rental: Enter the amounts of annual and monthly rent in US dollar on the respective lines. Continue by specifying landlord’s address to remit rent. Then enter the amount of security deposit payable by the tenant to the landlord. Enter the amounts of annual and monthly rent during the renewal of the term in subsection B. these amounts are necessary only during the renewal of the lease provided the tenant sends a 90-day notice prior to the original date of termination of the lease.
- Parking: Please specify the total number of allotted parking spaces and the amount of additional rent for each allotted parking space.
- Notice: Please enter the name and address of the landlord to send notices if any. Similarly, specify the tenant’s name and address for sending notices on the next lines.
- The landlord must sign the lease agreement to execute it.
- The tenant must sign the form to enter into a lease agreement with the landlord.