Oklahoma Commercial Lease Agreement
An Oklahoma Commercial Lease Agreement is a legally binding contract between the property owner (landlord) and the individual/entity (tenant) of commercial business property. The acquisition of commercial property in most cases requires a prohibitive cost capital, and that’s why most businesses will opt to lease or rent a commercial property.
While commercial lease agreements are quite complicated, they are in many cases negotiable, and if adequately negotiated they can remain cost stable and cost-effective. Before signing the Oklahoma commercial lease agreement form, it is vital to ensure that all the parties involved in the lease agreement have read and understood all the terms and conditions. The terms will define the responsibilities of the parties involved concerning the physical and financial care of the leased premises among others.
How to Write an Oklahoma Commercial Lease Agreement
In Oklahoma, all commercial lease agreements must comply with the state’s landlord-tenant laws, but every standard commercial rental agreement must include the following information.
- The legal name of the landlord and the tenants
- A description of the leased premise
- The legal, physical address of the premise including city and zip code
- A description of the commercial property
- The dates when the lease agreement starts and ends
- The amount of rent to be paid, the address the payment should be sent to and the payment method
Our commercial lease agreement fillable form is simple and easy to fill. It ensures that all the mandatory information required in any commercial lease agreement are captured to avoid any future litigation.
While every commercial lease agreement must include basic information (like address, city, state, and zip), it’s also important to add more details about the property guidelines. Our “premises guidelines” section is a series of straightforward questions that require yes or no answers.
The Oklahoma Statutes on landlord and tenant require the landlord to issue the tenant with at least 24-hour notice if he wishes to enter the premises for non-emergency but only enters at reasonable times. Under the premises guidelines sections, you’ll be able to indicate the number of days’ notice that’ll be given.
Every commercial lease agreement must include the day, month and year it will start and end. The Oklahoma landlord-tenant law requires a 30-day notice to terminate a tenancy in writing by either party. Where the rent is paid at intervals less than 30dys, the length of the notice should not be greater than the intervals between the days of payment. You can add such information on the “terms of the agreement” section on our Oklahoma commercial lease agreement form.
Every commercial rental agreement must include payment information. Our commercial lease agreement fillable form lets you indicate when the rent will be paid, the amount, and payment method.
The State of Oklahoma allows landlords to request security deposits. However, the security deposit must be deposited in an escrow account for the lessee which is maintained by the State of Oklahoma. Once the tenancy period is over, the security deposit may be applied to the number of damages/rent arrears the landlord has incurred due to non-compliance with the commercial lease agreement.
The balance must be returned to the tenant within 30-days upon the termination. As a landlord, our fillable commercial lease agreement lets you indicate whether or not you accept security deposit. If you request a security deposit, it will expand allowing you to mention the amount.
Once the commercial lease agreement form has been completed, you can have a preview of the document by clicking “Create My Agreement” button. You can also download it on your computer in different file formats for further customization.