The Arizona commercial lease agreement is a to be used with commercial or industrial tenants seeking to operate space for a business use. Due to the high level of financial exposure on part of the landlord, it is highly recommended that they screen the tenant through a rental application and verify the business status with the Secretary of State. This will allow the landlord to come to the decision whether a personal guaranty is necessary, which binds the principal of the business personally for the financial obligations under the lease agreement.
When writing the lease, the tenant will usually want the space build-to-suit. This means that the landlord will be obligated to construct the premises to the tenant’s liking so their only duty is to move in with their personal property and put up signage. The agreement is recommended to be authorized under the witness of a notary public.