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A New Mexico commercial lease agreement is a contract between a landlord and tenant that outlines the terms for renting a commercial space. It explains each party’s responsibilities, such as the tenant paying rent on time and keeping the space in good condition. The lease can also include other agreed-upon terms, like whether the tenant can make renovations.
Commercial Lease Application – Before renting a property to any individual or business entity, Landlords highly recommend using a lease application to screen Tenants.
When Does a Commercial Lease Agreement Become Legally Binding?
The Commercial Lease Agreement becomes legally binding when both parties sign the contract and the buyer gets the notice that the seller has accepted the deal. The buyer can get the notice in-person, by phone, and/or email.