India - Property
Commercial Rent Agreement
11-month commercial rent agreement for shops, offices, and commercial spaces with rent escalation clause.
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Instructions
How to fill this Commercial Rent Agreement:
1. Enter complete legal names and addresses of both parties.
2. For companies, use company name and PAN number instead of Aadhaar.
3. Specify the exact nature of commercial property (Shop, Office, Showroom).
4. Describe the nature of business to be conducted.
5. Set appropriate rent amount and escalation percentage (typically 8-10% for commercial).
6. Commercial security deposits are typically 3-6 months' rent.
7. Get the agreement notarized and consider registration for added protection.
1. Enter complete legal names and addresses of both parties.
2. For companies, use company name and PAN number instead of Aadhaar.
3. Specify the exact nature of commercial property (Shop, Office, Showroom).
4. Describe the nature of business to be conducted.
5. Set appropriate rent amount and escalation percentage (typically 8-10% for commercial).
6. Commercial security deposits are typically 3-6 months' rent.
7. Get the agreement notarized and consider registration for added protection.
Frequently Asked Questions
Can I use this for any commercial property?
Yes, this agreement is suitable for shops, offices, showrooms, and similar commercial spaces. For industrial properties, use the Industrial Rent Agreement.
What is the typical lock-in period for commercial agreements?
Commercial agreements typically have a 6-month lock-in period. This can be negotiated between parties.
Is GST applicable on commercial rent?
GST at 18% is applicable on commercial rent if the landlord's annual turnover exceeds Rs. 20 lakhs. This should be discussed and clarified between parties.
What happens if I want to change my business type?
Any change in the nature of business requires prior written consent from the landlord as specified in the agreement.