A North Carolina commercial lease is a contract that establishes a landlord-tenant relationship between two parties involved in the rental of non-residential property. The renting party typically seeks such lease to set up their business in the commercial space, whether for office, retail, or even industrial uses. Landlords will often drive negotiations and stipulate their desired terms before agreeing to a formal offer. In some cases, landlords can request the prospective tenant draw up a personal guarantee, which essentially brings a third party to assume the tenant’s financial responsibilities if they were to falter. Upon reaching an accord on rental terms, the parties must sign and execute the lease. The tenant and/or their business must obtain any government-issued permits prior to taking formal possession.
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