Agreement Template / December 4, 2018 / Karin Higgins
People that want a lease agreement typically are typing them up all the time and want access to a template that they can use over and over but before we dive into where we can find these templates lets break-down what a lease agreement is and the types of leases that exist out there. Standard Lease Agreement is the most common agreement among residential dwellings it is a legal document between a person that owns property ("Landlord") and someone that is occupying the property ("Tenant") in exchange for monthly rent. The form can be for any amount of time but most often you see a one year term. You cannot cancel this type of legal document but if you lose your job or a special situation arises you should speak to your Landlord and try to negotiate some type of deal.
Many times these types of forms are drawn up by lawyers. These forms can be very expensive and are not essential. It is only advisable for those who do not have time or resources to create this document on their own. A commercial lease agreement is different from a residential one. That is renters have far more latitude such as constructing a building that suits their business but they have far less freedom in terms of what they can do with the property they are renting. Lasting for 5 or even 10 years depending on the terms the landlord and tenant set a commercial lease is usually much longer than a residential lease. A commercial lease will often list several people on the lease both as landlords or investors and the group that is renting the space. Each person that has a stake in the agreement should be listed.
Obviously a basic form contract is unlikely to cover all the bases for things like international joint ventures multi-level sales agency relationships or insurance services. These are agreements where the costs of an attorney are justified. Another downside to using an employment agreement template is the potential for building inflexibility into your business. In particular employment law changes may invalidate or make an existing agreement out of date. If you use the same job template for hundreds of employees and the law changes you may need to go back and have them re-sign new contracts. This wont always benefit the company though it is a small risk to take to get the significant legal protections afforded by even the simplest of contracts.