Virginia Commercial Lease Agreement

Lease office, retail or other business premises in Virginia to a tenant with this template Commercial Triple Net Lease Agreement.

This template provides a comprehensive agreement for leasing office, retail, or other business premises in Virginia. The agreement is designed to clearly outline the responsibilities and obligations of both the landlord (lessor) and tenant (lessee).

Triple Net Lease

Under a triple net lease, the lessee is responsible for covering all costs and expenses associated with the leased premises. This includes not only routine expenses but also structural repairs, ensuring the property is maintained to a high standard throughout the term of the lease.

Renewal Option

The agreement grants the lessee the option to renew the lease for an additional term. This provides flexibility and security for tenants wishing to continue their business operations beyond the initial lease period.

Taxes, Charges, and Operating Expenses

The lessee is obligated to pay all expenses, taxes, levies, and charges related to the premises. This responsibility extends to all utilities, services, and operating expenses incurred as part of running their business.

Insurance Requirements

It is the lessee’s duty to maintain appropriate insurance coverage, including fire, extended coverage, and liability insurance, to protect the premises and their business activities.

Alterations, Improvements, and Repairs

All alterations, improvements, maintenance, and repairs to the premises fall under the lessee’s responsibility. This ensures that the property remains in good condition and any necessary updates or repairs are promptly addressed.

Damage, Destruction, or Condemnation

The agreement contains clauses detailing the procedures for rent abatement or lease termination in the event the building is damaged, destroyed, or condemned. These provisions provide guidance and protection for both parties should unforeseen circumstances arise.

Subordination

The lessee agrees to sign a subordination agreement or any other necessary documents, if required by the lessor, to subordinate the lease to a mortgage or other charge. This ensures that the lease remains subordinate to the lessor’s financing arrangements.

Additional Rent

An optional clause may be included for percentage rent, requiring the lessee to pay an additional amount based on the performance of their business, on top of the base rent. This can be tailored to suit the specific needs of the parties involved.

Template Features

This Commercial Triple Net Lease Agreement template is provided in MS Word format and is fully editable, allowing users to customize it to fit their particular requirements.

Jurisdiction

This lease template is meant to be used only in the Commonwealth of Virginia.

Before that business tenant takes possession of the premises, get a guaranty from an owner of the business to secure the payment and performance of the tenant's obligations with this Guaranty of Commercial Lease form for Virginia landlords.

• The guaranty is unconditional and continuing and will not be affected by any amendment to or extension or assignment of the lease.
• The guaranty is also not affected if the tenant becomes bankrupt or insolvent.
• The guarantor is primarily liable, which means that the landlord can take legal action against the guarantor even before commencing suit against the tenant.

Download the Virginia Guaranty of Commercial Lease and make sure to get a signed copy each time you lease to a new tenant.

VA commercial landlords, renew a tenant's lease of business space with this Virginia Renewal and Extension of Commercial Lease.

• The tenant has no further right to extend or renew the lease.
• The renewal contract sets out the new expiry date and the rental payments for the renewal term.
• All other terms and provisions of the original premises lease remain in full force and effect.
• This Agreement is for commercial leases. For residential properties, a different form is required.
• Easy to use, fully editable so you can customize it to your exact needs.
• Intended to be used only in the Commonwealth of Virginia.