The Alaska commercial lease agreement is a document used to signup a landlord and a business tenant which is usually under the name of an entity for the occupation of space in return for rent. The types of space involved are usually retail, industrial, and office related with an average lease term of three (3) to five (5) years due to the amount of “fit-up” usually done on behalf of the landlord.
The landlord will usually want to perform necessary due diligence on the entity by viewing their records at the Secretary of State’s office and seeing a credit report by accepting their information through an application. If it comes back insufficient the landlord may ask for the tenant to sign personally on the lease holding them accountable in the chance their business does not make it.
- As with residential properties, if the structure of the space was built before 1978, the tenant should be ask to sign the lead based paint disclosure.
Due to the amount of money involved in a commercial lease, it is recommended to have the landlord and tenant authorize in the presence of a public notary to ensure it’s legality.