West Virginia Commercial Lease Agreement
The West Virginia commercial lease must be completed and written in accordance with the State laws (See Chapter 46, Article 2A) which lets a business owner occupy and rent space from a property owner for monthly payment. Depending on the type of commercial lease ,the landlord and tenant will have an agreement over a base monthly amount and negotiate the terms of which party will be responsible for the property’s expenses such as real estate taxes, insurance, and any other liabilities.
The landlord should always make sure that the tenant is financially stable and if the business is new to have the principal authorize a personal guaranty that makes them personally liable before defaulting on the lease. The landlord may check the tenant’s credentials through the rental application, which allows a basic credit and background check, as well as through the Secretary of State to see the entity’s filing history.