A Pennsylvania commercial lease agreement records a legal understanding between a landlord of commercial property and a tenant looking to rent said space for business-related use. Leases of this kind typically last anywhere from three to five years, but terms may vary depending on the arrangement. In many cases, the parties include additional provisions that allow for renewal upon the lease’s maturity date. Prior to entering into an official agreement, landlords often vet rental candidates and their businesses. Tenants with limited financial history could seek a guarantor through a personal guarantee to entice the landlord, as a third-party individual would assume liability if the tenant were to falter on their duties. The parties must sign and execute the contract into effect once all conditions are reached. After signing, the tenant must obtain any government-issued permits or licenses in order to conduct business lawfully.
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