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

The difference between a commercial and a residential lease in Virginia is usually based on the purpose of the lease agreement. A residential lease is an agreement for the rental of a residential property. This typically includes apartments, single-family homes, townhouses, and condos. Residential leases are governed by the Virginia Residential Landlord and Tenant Act and contain specific rights, rules, and regulations designed to protect the tenant. A commercial lease is an agreement for the rental of a commercial property. These types of leases are typically used for businesses such as retail stores, offices, and warehouses. Commercial leases are generally more flexible than residential leases because they are usually based on the desired needs of the tenant rather than the landlord. These types of leases are also typically subject to local zoning laws and regulations. In Virginia, commercial leases usually last longer and are more expensive than residential leases. The landlord may also request security deposits or a guarantor to ensure payment of the rent. Tenants of a commercial property may also be subject to additional taxes or fees in addition to the rent. Additionally, the tenant may be responsible for maintaining the property in a certain condition in accordance with the terms of the lease.

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

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