Updated on December 9th, 2020
The Arkansas commercial lease agreement creates an extensive written transcript involving the specifics of leasing of a building or space to an entity for business purposes. The document is similar to a residential lease agreement, recording vital information on the lessor and lessee and detailing the property address, lease term, and security deposit amount. The commercial lease further covers a greater extent of provisions indicating lease type, rental escalations, subleasing, and tenant/landlord rights and responsibilities. In addition to the other varied provisions, a commercial lease tends to offer lesser consumer protections made available by residential leases. Negotiation of the leasing arrangement between the involved parties is generally conducted, and upon agreement, the endorsement and payment imposed.