Fillable Form Ohio Commercial Lease Agreement

What is an Ohio Commercial Lease Agreement?

An Ohio Commercial Lease Agreement is a legally binding contract that outlines the terms and conditions under which a property owner leases commercial space to a tenant for business purposes. These agreements specify the duration of the lease, rent amount, permitted use of the premises, and other critical details to define the responsibilities of both parties.

These agreements are governed by Ohio state laws, which provide guidance on various aspects of the tenancy. For instance, an Ohio lease agreement may include provisions related to security deposits maximum limits, maximum late fee allowances, and the requirements for collecting interest on deposits. Landlords and tenants must comply with regulations regarding written notice periods for violations or termination of the lease. The terms of the agreement often include a grace period for late payment, outlining the maximum amount a tenant can owe before penalties apply. Additionally, landlords are obligated to follow specific processes for handling unclaimed property and withholding rent disputes. A fixed term lease will clearly define the duration of the tenancy and may also specify required disclosures about the rental property or commercial property, ensuring transparency between the parties. Maintaining a thorough understanding of these rules helps to protect the rights of both landlords and tenants within a rental unit arrangement.

How do I fill out an Ohio Commercial Lease Agreement?

A fillable Commercial Rental Agreement Ohio PDF can be found here.

Date Made and Effective

Enter the date that this agreement was made and becomes effective.

Landlord Name

Enter the name of the landlord.

Tenant Name

Enter the name of the tenant.

Address of Building

Enter the address of the building or property owned by the landlord.

Description of Building

Enter a description of the building or property owned by the landlord.

Designation

Enter the designation given to the part of the property being leased.

Term

Enter the beginning and ending dates of the tenant’s lease. Then enter the extended term that tenants may renew the lease for.

Rental

Enter the amount that must be paid in total by the tenant in rent every year, and the amount of rent payments that will be made in installments. Then enter the landlord’s designated payment address and the amount that must be paid for the security deposit. Security deposits are a sum of money paid by the tenant to the landlord as a financial safeguard against potential property damage or failure to comply with the lease terms. It is usually refundable at the end of the lease term, provided the tenant has fulfilled all contractual obligations and the property is returned in good condition.

Finally, enter the amount that must be paid annually and in installments per month for the lease in the event that it is renewed.

Use

This section outlines the terms surrounding how the tenant may use the property being leased.

Sublease and Assignment

This section outlines the terms surrounding subletting the leased property.

Repairs

This section outlines the terms surrounding repairs made to the property.

Alterations and Improvements

This section outlines the terms surrounding any alterations and improvements made to the property.

Property Taxes

This section outlines the property taxes associated with the property.

Insurance

This section outlines the terms surrounding any insurance on the property.

Utilities

This section outlines the terms surrounding the utilities provided with the property.

Signs

This section outlines the terms surrounding the tenant’s right to place signage in the property.

Entry

This section outlines the landlord’s right to enter the property.

Parking

This section outlines the terms of the tenant’s ability to park their vehicle at or near the property. Enter the number of parking spaces being leased, and the monthly rental fee that must be paid for renting said parking spaces (if applicable).

Building Rules

This section outlines the rules of the building set or followed by the landlord.

Damage and Destruction

This section outlines the terms surrounding how damages and destruction of the property will be managed.

Default

This section outlines the terms surrounding what will happen should the tenant default in their payments.

Quiet Possession, Condemnation, and Subordination

These sections outline the terms surrounding the quiet possession, condemnation, and subordination of the property.

Security Deposit

This section outlines the terms surrounding the security deposit paid to the landlord.

Notice

Enter the addresses to which any correspondence to the landlord or the tenant should be sent.

Brokers and Waiver

These sections outline the terms surrounding the property being shown to brokers, as well as the terms surrounding any waiver or lack thereof that this agreement shall include.

Memorandum of Lease

This section states that this lease should not and shall not be filed for record, but that a memorandum of lease will be provided upon request of either landlord or tenant as necessary.

Headings

This section outlines that the headings in this form are purely for convenience and should not be considered in interpreting the meaning of any part of the lease.

Successors, Consent, and Performance

These sections outline the terms surrounding the successors of the tenant and landlord, consent for matters that require the landlord’s consent, and the performance of the landlord and tenant with regards to the fulfillment of the various terms outlined through this form.

Compliance with Law, Final Agreement, and Governing Law

These sections certify that this agreement complies with all relevant laws and is the final agreement between the tenant and the landlord, and is governed by the law of the state of Ohio.

Signatures

Have the landlord and tenant enter their names and signature in the spaces provided.

Frequently Asked Questions (FAQs)

What is a gross lease in Ohio?
In a gross lease, the tenant pays rent, and the landlord covers property expenses like taxes and utilities.

What is a triple-net (NNN) lease?
The tenant pays rent, property taxes, insurance, and maintenance fees.

Are security deposits allowed?
Yes, landlords can request deposits, and they must follow return policies outlined in the lease.

Can a lease be terminated early?
Early termination depends on specific provisions or mutual agreement.

What is a sublease?
It allows the original tenant to rent the space to another party, typically needing the landlord's consent.

Who is responsible for property repairs?
Responsibility depends on lease terms, with tenants often handling interior repairs.

What is a holdover tenant?
A tenant who stays beyond the lease end date without signing a renewal agreement.

What happens during a lease default?
The landlord can evict the tenant or take legal action if the default terms are met.

Can a landlord increase rent during the lease?
Only if stated in the agreement, such as through an escalation clause.

What is a "common area maintenance" (CAM) fee?
It’s an additional charge for shared space upkeep like hallways and parking lots.

What is a personal guarantee in leasing?
A guarantor ensures payment obligations in case the tenant defaults.

What is an exclusive use clause?
It prohibits the landlord from renting neighboring spaces to competitors of the tenant.

Can changes to the property be made?
Renovations usually require landlord approval.

How is dispute resolution handled?
The lease should outline processes like mediation, arbitration, or legal action.

Do tenants need liability insurance?
Most leases require tenants to carry business liability insurance.