The Delaware commercial lease agreement is a form that allows a business entity to rent retail, office, or industrial types of space from a property owner. The lease is typically structured for a longer term than most residential contracts, anywhere from three (3) to five (5) years, which makes for the review process of the tenant’s credentials much more important. Also, it is commonplace for the landlord to “fit-up” or prepare the space to the exact specifications of the tenant, therefore it is highly recommended that a thorough overview the the entity’s credentials be evaluated.
Commercial Lease Laws
The most simple ways to check the tenant’s information;
Verify the existence of the entity with the Secretary of State’s office.
Check the business’s credit.
If the business does not come back to the landlord’s financial requirements, a personal guaranty should be signed which makes the person that owns the business personally accountable for rent to be paid in full.