Retail leasing
legal document
A retail lease is a legal document outlining the terms under which one party agrees to rent property from another party. A lease guarantees the lessee (the renter) use of an asset and guarantees the lessor (the property owner) regular payments from the lessee for a specified number of months or years. Both the lessee and the lessor must uphold the terms of the contract for the lease to remain valid.
Commercial leasing
A commercial lease is meant to be an agreement between the owner of a property and the person looking to initiate some sort of businesses on that land. A retail lease is a kind of commercial lease in premises that are wholly or predominantly used for retail shop businesses. These leases attract additional protections under the law, so it is important to choose what type of lease the business is entering into. Leasing lawyers are specialists in the field of leasing and may be consulted for legal advice when entering a lease. Owning commercial property also means a company has to manage it as well and a business may not be prepared to do that. Newer businesses usually require to pick commercial leasing over property possession as they often do not have the funds flow necessary to buy adequate business space.
Definitions
A commercial leasing agreement is also called a commercial property, commercial real estate, business, industrial, and office space lease.
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