A Kentucky commercial lease agreement allows a landlord to rent non-residential property to a paying tenant who shall utilize the space for business purposes. As opposed to shorter residential leases, commercial leases often last around three to five years and include a renewal provision. A landlord will likely conduct a detailed background check on any potential renter to determine eligibility. In that case, tenants with minimal or tumultuous financial records may have to complete a personal guarantee, which adds an extra layer of protection by bringing forth a third party who shall assume liabilities onto the lease. All parties must sign and execute the lease upon reaching mutual terms on costs and additional conditions.
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