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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.
Definition of commercial property market rent. The concept of market rent in commercial property markets is not straightforward. It is defined in the Valuations Standards of the Royal Institution of Chartered Surveyors, commonly referred to as the Red Book, as.efinition of commercial property market rent. The concept of market rent in commercial property markets is not straightforward. It is defined in the Valuations Standards of the Royal Institution of Chartered Surveyors, commonly referred to as the Red Book, as.