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An Oklahoma commercial lease agreement is a legally binding contract that a landlord draws up for the lease of a commercial business property or industrial space in exchange for monthly rent. Unlike a residential lease that involves the typical landlord and tenant, a commercial rental agreement is between a property owner and a business entity.

Both parties must agree to the terms of an agreement and sign to accept its terms and conditions. If you are new to commercial lease agreements and need help drawing up a professional document, we will provide you with all the tools you need to create the perfect contract that will outline the terms and conditions of leasing your property.

Here is our short guide on how to create the perfect rental agreement.

Oklahoma Lease Agreement

A lease agreement is designed to document the terms and conditions all parties involved have agreed on. According to Oklahoma tenant/landlord laws, here's what you'll need to include in your rental contract:

  • The names and personal details of both parties, the lease term, and the type of contract (either a triple net, gross, or modified gross)
  • Rent payment amount, due date, and terms
  • Information concerning the security deposit
  • The physical address of the commercial property
  • Details about the eviction process
  • Utilities that the tenant will be responsible for
  • Limitations for the use of the space
  • Whether subletting is allowed
  • The process for change of ownership of the business
  • Who will be responsible for praying for repairs, maintenance, property taxes, and insurance costs
  • The tenant and landlord's signatures

Disclosures

According to federal and state law, landlords must disclose certain things about the rental property to their tenants. This includes:

Anyone with the Authority to Act on the Landlord's Behalf

In addition to including the names and personal details of all parties involved, a landlord must have the contact information of anyone with the authority to act on their behalf in the written agreement. This includes property managers, guarantors, and realtors.

Flood Disclosure

If the property is prone to flooding or has experienced a flood in the past five years, landlords must disclose this in the commercial lease agreement. The purpose of this disclosure in commercial lease agreements is to help the business decide whether it needs to have flood damage insurance coverage.

Lead-based Paint

Any potential use of lead-based paint in the facility must be disclosed in the commercial lease agreement. Lead, which is commonplace toxic substance in buildings built before 1978, poses a serious health threat to anyone who is pregnant. It might also be helpful to include pamphlets from the Oklahoma government website as well.

Free Templates

If you'd like a convenient way to create professional commercial lease agreements, you can use one of two options:

  • Use a Free Form. You can download and edit our free form that you can use. It is available in a PDF and Word format and can be edited to include the details of your unique terms. However, this version leaves little room for personalization.
  • DoorLoop's Custom Commercial Lease Builder. On the other hand, our custom lease builder can help you create professional, personalized leases. You will also have access to a number of intuitive tools when you sign up with DoorLoop, including property listing features, rental account management, and more!

Final Thoughts

Creating the perfect commercial lease agreement is important to set the tone for your relationship with your tenant. However, knowing where to start isn't easy. You can use DoorLoop's innovative commercial rental contracts to create, manage, and store your lease agreements quickly and easily.

To find out more or request a free demo, contact us today! Do you need free forms for residential, sublease, or other types of rental agreements? Please browse our website!

FAQs

Does a rental agreement have to be notarized in Oklahoma?

No, a rental contract doesn't have to be notarized to be considered legally binding. However, certain types of leases will need notary approval.

How does a tenant get out of a lease in Oklahoma?

If a tenant wishes to exit a lease agreement, he or she will have to provide written notice of their intention. Once this document has been submitted, the lease will be terminated within 60 days of the next date of due rental payment.

Is a commercial lease legally binding?

A commercial rental contract is only considered legally binding between a landlord and a business entity if it has been signed and dated by both parties.

Can a landlord break a lease in Oklahoma?

Landlords cannot force tenants to leave a rental property without due cause. To terminate the lease, a landlord must provide 30 days' written notice.

What is a commercial space?

Commercial space is an area in an office, retail, warehouse, or industrial building area.

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David Bitton

David is the co-founder & CMO of DoorLoop, a best-selling author, legal CLE speaker, and real estate investor. When he's not hanging with his three children, he's writing articles here!