Department Store Rental Agreement
Department Store Rental Agreement
This Department Store Rental Agreement (hereinafter referred to as the "Agreement") is made and entered into on [Month Day, Year] by and between:
[Your Company Name], located at [Your Company Address] (hereinafter referred to as the "Landlord"), and [Tenant's Full Name / Company Name], with a business address at [Tenant's Address] (hereinafter referred to as the "Tenant").
WHEREAS, the Landlord agrees to lease a portion of the Department Store space to the Tenant for the operation of a business subject to the terms and conditions outlined in this Agreement.
NOW, THEREFORE, in consideration of the mutual promises and covenants herein contained, the parties agree as follows:
1. LEASED PREMISES
The Landlord hereby leases to the Tenant, and the Tenant leases from the Landlord, the following premises:
-
Location: [Store Location or Unit Number], located within [Your Company Name] at [Your Company Address].
-
Square Footage: 1,500 square feet.
The premises shall be used exclusively for the following business operations:
-
Tenant's Business: The retail sale of men's and women's apparel, including casual wear, formal wear, and seasonal clothing. The business will also offer accessories such as handbags, belts, scarves, and footwear. In addition to retail sales, the tenant may offer alteration services to customers for the purchased items.
-
2. LEASE TERM
The term of this Agreement shall commence on [Month Day, Year] and continue for a period of [2 years] unless terminated earlier as provided in this Agreement.
Option to Renew: The Tenant shall have the option to renew the lease for an additional term of [1 year], subject to the mutual agreement of the parties, provided that the Tenant gives the Landlord written notice at least [0] days before the expiration of the initial term.
3. RENT
The Tenant agrees to pay the Landlord as rent the sum of $[0] per month, payable in advance on or before the [Month Day, Year] of each calendar month.
First Month's Rent and Security Deposit: Upon signing this Agreement, the Tenant shall pay the first month’s rent of $[0] and a security deposit of $[0].
Late Payment: If rent is not received by the [Month Day, Year], the Tenant will be assessed a late fee of $[0].
Payment Method: Payments shall be made via electronic bank transfer to the following account:
-
Bank Name: ABC Bank
-
Account Number: 123456789
-
Routing Number: 987654321
-
Payee Name: [Your Company Name]
Alternatively, payments can be mailed to the following address:
-
Payee Name: [Your Company Name]
-
Address: [Your Company Address]
4. SECURITY DEPOSIT
-
The Tenant shall deposit with the Landlord a security deposit of $[0] to secure the performance of all obligations under this Agreement.
-
The security deposit shall be refundable at the end of the lease term, subject to any deductions for repairs or unpaid rent as permitted by law.
-
The Landlord shall provide an itemized statement of any deductions from the security deposit within [0] days after the end of the lease term.
5. USE OF PREMISES
The premises shall be used solely for the purpose of [Tenant’s Business Purpose]. The Tenant agrees to:
-
Operate their business in compliance with all federal, state, and local laws and ordinances.
-
Maintain the premises in a clean, safe, and orderly condition.
-
Not make any alterations or improvements to the premises without prior written consent from the Landlord.
6. MAINTENANCE AND REPAIRS
The Landlord shall be responsible for the structural integrity of the premises and maintenance of common areas, including but not limited to hallways, elevators, restrooms, parking areas, and entrances/exits.
The Tenant shall be responsible for:
-
Routine maintenance and repair of the interior of the leased premises.
-
Reporting any damages to the premises to the Landlord within [0 days] of occurrence.
7. INSURANCE
The Tenant shall obtain and maintain throughout the lease term:
-
Commercial General Liability Insurance: Minimum coverage of $[0], naming the Landlord as an additional insured.
-
Property Insurance: Coverage for the Tenant’s personal property and inventory located on the leased premises.
The Tenant shall provide proof of insurance to the Landlord prior to occupancy.
8. INDEMNIFICATION
The Tenant agrees to indemnify, defend, and hold harmless the Landlord, its agents, and employees from any and all claims, damages, liabilities, or expenses arising out of the Tenant’s use of the premises, except to the extent such claims arise from the negligence or willful misconduct of the Landlord.
9. UTILITIES
The Tenant shall be responsible for the payment of all utilities and services used on the leased premises, including but not limited to electricity, water, gas, and internet, unless otherwise agreed in writing.
10. SIGNAGE
The Tenant shall not erect any signs or advertising displays on the premises without the prior written consent of the Landlord.
11. ASSIGNMENT AND SUBLETTING
The Tenant shall not assign this Agreement or sublease any portion of the premises without the prior written consent of the Landlord.
12. DEFAULT
If the Tenant fails to pay rent or violates any other term of this Agreement, the Landlord may terminate the lease upon giving [0] days' written notice. Upon termination, the Tenant must vacate the premises and return the space in the same condition as it was at the beginning of the lease, normal wear and tear excepted.
13. TERMINATION
This Agreement may be terminated by either party upon giving [0] days' written notice. Upon termination, the Tenant shall vacate the premises and return any keys or access cards to the Landlord.
14. GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of the state of [State].
15. ENTIRE AGREEMENT
This Agreement constitutes the entire understanding between the parties and supersedes any prior discussions, agreements, or understandings, whether written or oral.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.
LANDLORD:
[Your Name]
[Month Day, Year]
TENANT:
[Full Name]
[Month Day, Year]
WITNESS (if applicable):
[Full Name]
[Month Day, Year]
