The Vermont Commercial Lease Agreement is a special kind of lease designed to rent out the property to a for-profit organization for commercial reasons. Only a commercial entity can use this type of lease, a non-profit or charitable organization, for example, would not be allowed to.
A commercial lease will typically be much more complicated than a residential lease. It will often be longer than a typical residential lease, contain clauses about what the property can be used for (typically business or industry), or even clauses pertaining to how the surrounding units on the property can be used.
A Commercial ease may also contain clauses making the tenant financially responsible for more than just the rent. A common pay structure for a Commercial Lease is a Triple Net (NNN) Lease, where the tenant is responsible for paying for the utilities, repair and property taxes. The rent in a Triple Net Lease will typically be much lower than in a Gross Lease, where the tenant is only responsible for the rent.
Due to the increased complexity of the lease, a Commercial Lease should be read even more carefully than a Residential one, possibly with lawyers present. In addition, both parties should be aware of any and all local and state laws that could affect the lease. Vermont Laws pertaining to leasing property can be found in Vermont Statutes, Title 9, Chapters 137 and 139.