New Mexico Commercial Lease Agreement
The New Mexico commercial lease agreement, in accordance with the Commercial Tenant Checklist, allows an individual or entity to occupy space or real property from an owner/manager for a stated period of time in exchange for monthly rent and other terms and conditions. The parties, landlord and tenant, are to first agree verbally to the main factors of the lease i.e. monthly amount, responsibility of utilities, renewal periods (if any), increases in rent, etc. After all the main points are mutually understood it is best to move to a written agreement through this contract. After a finalized contract has been produced and signed, the tenant may move-in and occupy the premises for it’s term.
Before authorizing an agreement, the landlord should keep in mind that they will probably have a decent investment in the property due to fitting up the space for the tenant. Therefore the property owner should take precautions by viewing the background information of the principal of the entity by asking for previous years tax filings and to see the income distributed to all principals of the company. Also, if there is no personal guaranty that is asked, the landlord should view the corporation’s entity information at the Secretary of State’s Office.