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Last revision: 03/09/2024
Available formats: Word and PDF
Size: 8 to 12 pages
Download a basic template (FREE) Create a customized documentA Short-term Commercial Lease Agreement is a contract between a landlord (the property owner or lessor) and a tenant (the business or lessee) regarding the rental of commercial property for a short duration.
There are several situations in which a business might use a short-term commercial lease. Short-term commercial leases are commonly used by businesses that require temporary space for a specific period, typically less than a year. This could include situations such as when startups need office space, retailers need temporary retail space, or businesses need storage facilities for short-term projects or expansions.
Hence, short-term commercial leases offer flexibility for businesses that may not want to commit to a long-term lease or need temporary space for various reasons.
The Commercial Lease Agreement should be used when a business wants to rent a business or commercial property for a longer duration (longer than one year). On the other hand, the Residential Lease Agreement is used to rent residential properties for a longer duration.
This document requires basic information about the parties, including the following information:
After completing this form, the document should be printed. The landlord and the tenant should sign the document. Alternatively, signing can be done electronically.
If the tenant is a sole trader, the individual who is the sole trader should sign and have the document attested to by at least one witness. If the landlord or tenant is a company, an authorized officer such as a manager should sign on behalf of the respective parties.
After signing, the parties should keep at least one signed copy of this document for their record.
Various states in Nigeria have their tenancy laws. These laws include:
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Short-Term Commercial Rental Agreement - FREE
Country: Nigeria