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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.
A commercial lease serves as the agreement between a landlord and a tenant who is renting the landlord's property for a business purpose. If you are a commercial tenant, you should understand your state's real estate laws and know your rights if either party decides to break the lease early. As a business owner, you might need to terminate your lease because you've decided to move to another location or end operations altogether.