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Definition. Agreement between a landlord and a business outlining terms and conditions of property rental. A commercial lease is specific to renters using the property for business or other commercial purposes versus residential use. commercial lease is specific to renters using the property for business or other commercial purposes versus residential use.
Term Leases - The landlord is obligated to rent the unit to the tenant for a. specific length of time, for a set amount of rent and under the conditions. negotiated in the lease. The tenant is likewise obligated to pay the rent and. fulfill the lease conditions for the same period of time. Be sure you understand.