Do I need a contract?
UPDATED: Sep 30, 2022
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Do I need a contract?
I will be renting out the kitchen in a small business that I own. We have
verbally agreed to the cost per month but I think that maybe I should have a
signed agreement in place to avoid any surprises down the road. What type of
agreement should I use?
Asked on January 17, 2017 under Business Law, Indiana
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
If the tenant will have sole access to the kitchen (i.e. you can't use it), use a commercial lease and just modify it to reflect the space he is renting. If you and he both have access, you don't use a lease (which gives sole or exclusive "possession") but a "license" which gives the tenant the defined rights or usage but does not prevent you from using it, too. You can Google either "commercial lease" or "commerical space license" and likely find examples or templates. Or you can draw it up from scratch, just clearly setting out what you are giving the tenant, what his obligations are, what he pays, and what are your rights.
And yes: you should always have a written lease or license, to prevent disagreement over the terms later.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.