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A valid business lease will include the time period of the contract, information regarding how to renew the lease, and specific provisions on how either party may be able to stop the lease early.
070. Security deposits and prepaid rent. Except as provided in (h) of this section, a landlord may not demand or receive prepaid rent or a security deposit, however denominated, in an amount or value in excess of two months' periodic rent.
Consideration ? Consideration, in legal contracts, refers to an exchange of value. For a lease agreement, consideration is made in the form of rental payments.
If the tenant wishes to terminate the lease early, they have to give a 30 day notice. For more information on Alaska Landlord Tenant laws (Alaska Statutes Secs. 09.45. 090, 09.45.
Things A Landlord Cannot Do in Alaska Landlords cannot change locks, shut off utilities, or take other "self-help" actions to try to evict you. They have to file eviction cases in court.
At the very least, a commercial lease should identify the parties to the lease, state who is the landlord and who is the tenant, give the address of the property, and include the amount of the rent. It should also include a start date and an allocation of any other costs. Both parties should sign the lease.
*To be valid, a lease must meet the same essential elements as any other contract: capacity to contract, legal objective, offer and acceptance, and consideration.
California's Statute of Frauds requires a lease to be in writing if it either: 1. has a term longer than one year; or 2. has a term less than one year which expires more than one year after the agreement is reached. actually be maintained for thirteen months.