A Kansas Commercial Lease Agreement is used for business owners, otherwise known as “the Tenant”, seeking space to operate from a property owner, otherwise known as “the Landlord”, for a fixed period of time. The space being used by the business may be for retail, office, or industrial use.
Reviewing the Tenant
A typical commercial lease will be a fixed term of three (3) to five (5) years depending on the negotiations of the parties. Therefore, the landlord will be making a sizable investment that is worth checking the tenant’s credit and business history. This can be done by reviewing the principal of the entity with a credit application and reviewing their status with the Secretary of State’s office.
If the review comes up short of the landlord’s expectations, the principal of the business may be advised to sign a personal guaranty to the lease.