Rider to Commercial Lease Agreement
A rider to a commercial lease agreement is an additional document that outlines specific terms and conditions that are not included in the original lease agreement. A rider can be added to the lease agreement at any point in time, either before or after the lease has been signed by both parties. The rider will modify or add to the terms in the lease agreement to ensure that both parties are clear on the expectations and responsibilities.
A rider is commonly used in a commercial lease agreement to add special terms that are specific to the business or property. For example, if a tenant plans to operate a restaurant, the rider would include additional clauses related to the use of the kitchen, exhaust system, and dining space. A rider can also be added to include clauses related to rent increases, repairs, or maintenance of the property.
It is essential that both the landlord and tenant thoroughly review and agree on the terms of the rider before signing it. The rider should be signed and attached to the original lease agreement, and a copy should be kept by both parties.
When creating a rider, it is crucial to keep in mind that it should not contradict the existing terms of the lease agreement. The rider should complement the lease agreement, not supersede it.
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In conclusion, a rider to a commercial lease agreement is an additional document that specifies particular terms and conditions that are not included in the original lease agreement. Adding a rider helps both the landlord and tenant to ensure that they are clear on the expectations and responsibilities contained within the lease. Before signing a rider, both parties should review and agree on the terms. When creating a rider, it`s essential to ensure that it does not contradict the existing terms of the lease agreement.