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Commercial lease agreements are typically more complex than residential ones, which is why you should understand even the smallest detail before you get potential tenants to sign the document.
The following page will explain how a South Carolina commercial lease agreement should be.
South Carolina Commercial Lease Agreements
Currently, there are three different document types a property owner can consider for renting their property in South Carolina. According to state laws, these are the three options you can choose:
- Gross Leases - The tenant must pay for rent, whereas the landlord must pay for other property expenses.
- Triple Net Leases - The tenant takes care of all property and rental expenses for the rental building.
- Modified Gross Leases - The parties involved in the commercial lease must agree upon who will take care of the expenses.
Write Your Own
Here, we will take a look at a standard commercial lease outline you can consider for your business property, according to state laws.
- First Section - Landlord and tenant information, information about the rental space, date for the real estate leasing term, and arrangements surrounding maintenance, repairs, utilities, taxes, construction, and others.
- Second Section - Rental payments, security deposits, and term renewals.
- Third Section - Licenses and permits.
- Fourth Section - Vital clauses and other miscellaneous information (i.e. pet laws, smoking laws, and others).
Specific Considerations
- Landlords don't have to legally make repairs to the business unit in a regular arrangement.
- If the tenant holds over in the rental unit until three months after the term expires, they will have to provide the landlord with two times the rental price.
Mandatory Disclosures
Lead Paint: The laws in most states order landlords to provide the tenant with information surrounding lead paint if the unit was built before 1978. Overall, the required information must be included in the agreement.
Build Your Own
If you don't want to spend too much time drafting the terms and conditions required for your leases, consider downloading our free template today in Word or PDF format.
You may adjust the terms and rights if you download a customizable version of the document.
Bottom Line
As long as every party has agreed on the real estate terms stated in this page, everyone will comply with the law, giving both the landlord and tenant a healthier relationship.
FAQs
What Happens Once the Lease Expires?
According to the law, tenants must surrender the premises unless the landlord allows a renewal.
Do Commercial Leases in South Carolina Need to Be Notarized?
It's not mandatory by law to get leases notarized here, but some people may choose to do it just in case.
Can You Make Adjustments to the Lease Contract?
Yes, you can make adjustments to your leases every year. However, if you got your leases notarized, you must get them notarized again to make the changes valid.
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