What is the difference between a commercial lease and a residential lease?

A commercial lease and a residential lease are two different types of legal agreements regarding the rental of a property. There are a few key differences between the two types of leases. Commercial leases tend to have longer lease terms than residential leases and often involve more complex terms. In a commercial lease, the lessee (the tenant) typically pays for the cost of repairs and maintenance for the property, whereas in a residential lease, the landlord usually pays for these costs. Commercial leases also usually involve a larger security deposit than residential leases and often contain specific rules for terminating the agreement. Commercial leases usually grant the tenant more control over the space than a residential lease. The tenant may be responsible for not only paying rent, but also for customizing the property’s design to suit their needs. The tenant may also need to pay for improvements made to the property. On the other hand, in residential leases, the landlord is typically responsible for providing standard maintenance and repairs. The types of businesses allowed in the rental space can also be restricted in a commercial lease but not in a residential lease. In addition, a commercial lease may include a renewal clause that lets the tenant sign a new lease after the initial term expires, whereas, with a residential lease, the tenant must usually negotiate a new rental agreement from scratch.

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What is the difference between a commercial lease and a residential lease?

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