Unsourced material may be challenged and removed. A sign in Chicago simple commercial lease agreement pdf space for lease. Property, buildings and vehicles are common assets that are leased. Industrial or business equipment is also leased.
Broadly put, a lease agreement is a contract between two parties, the lessor and the lessee. The lessee also agrees to abide by various conditions regarding their use of the property or equipment. For example, a person leasing a car may agree that the car will only be used for personal use. Names of the parties of the agreement. The starting date and duration of the agreement. Provides conditions for renewal or non-renewal.