Real estate law gets a bit more complicated when it comes to commercial leases. However, drafting a new lease agreement for your property shouldn't be that complicated.
The following article will walk you through writing an effective Ohio commercial lease agreement.
Ohio Lease Agreements
First, let's go over the three main leasing options the landlord can offer the tenant for their business entity:
- Gross Lease: The tenant is only responsible for paying monthly rent, whereas the landlord will have to pay for other expenses, including property taxes, insurance, and area costs.
- Triple Net Lease: Here, the tenant will pay for rent and all the other expenses surrounding the business.
- Modified Gross Lease: In this legally-binding document, the landlord and tenant can agree on who will have to pay for each factor.
Write Your Own
Commercial leases in Ohio are different from residential leases. The primary reason is that commercial ones involve certain additional guidelines that may be of interest to all parties involved, including construction rules, maintenance requirements, and others.
Here's how you should write a rental document for a commercial business in Ohio:
Introduction | Primary Factors
Include the following provisions:
- Legal names of all the parties involved in the rental
- Address of the leased building
- Lease term date
- Description of the property
- Use of premises
- Lease type
- Tenant's obligations regarding the maintenance of utilities, cleaning sessions, and others
- Expenses (Insurance, taxes, maintenance, utilities)
It's vital to note that all of the documents must be signed, notarized, and dated.
Rent, Security Deposit, and Renewal
Make sure to include the following:
- Base rent amount
- Default and possession guidelines
- Renewal policies
- Security deposit guidelines
Licenses and Permits
Both the rental unit and the business itself must have proper documentation to comply with Ohio laws. Landlords must request all the necessary documentation from the tenant to let them operate in the building without any legal problems.
Some other clauses that the landlord must include in the lease form include the following:
- Individual Rights and Obligations
- Bankruptcy and Indemnification Statements
- Right of Entry
These don't necessarily have to be included for the document to comply with the law, although you can consider them:
- Pet Policies
- Smoking Rules
- Advertising Policies
- Sign Placements
According to the law, these are some valid renting clauses that should be considered by landlords before renting their space:
- Eviction Conditions
- Parking Conditions
- Damage to Premises
Ohio law requires landlords to include a lead paint clause, if applicable. This scenario applies if the maintained unit was built before 1978, meaning it may have lead-based paint, which can be dangerous to pregnant women and children.
If you don't want to go through each of the terms mentioned here, you can download our free template today in Word or PDF format. On the other hand, you can download a customizable version and make any changes necessary to meet your current needs.
Go into the "Commercial Lease Agreements" section and download the file you need.
We hope we helped you gather all the knowledge you require to make a real estate document for this state. As long as you follow state laws, you will not have any legal issues in the future.
Do Leases in Ohio Need to Be Notarized?
Yes. Leases in this state must be notarized to comply with the law.
Do Leases in Ohio Need to Be in Writing?
Ohio law requires people to get written leases to prevent fraud.
Can You Make Oral Modifications of a Written Lease?
No. Any modification made to the lease must be in writing.