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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.
Leasing is an important activity for many organizationsâwhether a public or private company, or a not-for-profit organization. It is a means of gaining access to assets, obtaining financing, and reducing an organizationâs exposure to the risks of full ownership of the underlying asset.