eSahayak offers legal expert verified, ready-to-use commercial shop/ store lrent agreement. This means that you don’t have to spend days getting a lawyer to draft a deed for you. Skip all the hassles by just filling in your details in our pre-drafted form. Good luck with the shop!
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When you wish to open a store of some kind in a shopping complex, isolated building or any spot of your choice, you will need to prepare a shop/ store rent agreement. The rent agreement will be signed between the owner of the business and the landlord.
Such rent agreements are governed by the Rent Control Act and are binding. Hence, proceeding without a contract is like leaving a ticking legal bomb.
Any individual above the age of 18 can enter into a commercial store/ shop rent agreement. Companies and business too can be the tenant in a shop/ store rent agreement. Any person wishing to open a store in a place available for rent can enter into a shop/ store rent agreement.
Being different from a residential rental deed, a commercial store rent agreement needs to pay attention to a host of clauses that is necessary for a business. Let’s take a look at some such clauses:
Following are the steps you need to take to ensure that your shop/ store rent agreement is legally valid.
Like every other legal document, shop/ store rent agreement also require that the names and addresses of Tenant, Landlord, property being leased out and other valid entities to be clearly mentioned. The term of the rent along with the interval and amount of payment too must be mentioned. The date on which the contract begins, conditions of termination of contract and factors to be considered while renewing the contract have to be spelled out too.
Shop/ store rent agreement are different from residential rental deeds in both the format and the clauses included in it. hop/ store rent agreement often allow the Tenant to build structures or incorporate changes to the existing structure so that the business flourishes. Display structures, cabins, wall installments etc may be added. Because the addition/ removal of structures and renovation of the building is vital to the business, it needs to be clause in the hop/ store rent agreement.
To make a hop/ store rent agreement legally valid, the prepared contract has to be printed on stamp paper of recommended value, signatures of tenant, landlord and witnesses placed in designated places and registered at the sub registrar office. Keep in mind that leases that are for a period of more than a year must compulsorily be registered.
A lot of factors go into deciding a matter like this. As the very location of the shop and its construction is vital to your business, pay attention to the following factors while looking for that perfect place.
Yes, a Commercial Rental Agreement may be terminated early in certain circumstances.
The landlord can break the lease if the tenant breaches the terms and conditions of the shop/ store rent agreement. While it’s usually preferable that the two parties come together to negotiate a solution to the problem, the landlord has no obligation to do so. A lease can also end if both parties agree to terminate the agreement.