Florida Lease to Own for Commercial Property

State:
Multi-State
Control #:
US-00836BG-1
Format:
Word; 
Rich Text
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Description

This form is a sample of a commercial lease of real property which contains an option to purchase the property at the end of the term. This lease is a triple net lease which means that the lessee pays, in addition to rent, all expenses associated with the property such as property taxes, insurance and maintenance and operation charges.
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FAQ

How long is a typical commercial lease? Commercial leases are typically three to five years. That guarantees enough rental income for the landlords to recoup their investment.

In Florida, residential leases of any duration are acceptable. An oral lease agreement is legal and enforceable for any period of less than one year. Lease agreements that exceed one year are permitted, but they must be in writing to comply with the statutes of fraud concerning property transactions.

In Florida, there is no specific time limit to a residential lease agreement. Both oral and written lease agreements are considered legal and enforceable. Still, any lease agreement that exceeds one year must be in writing.

Florida law requires that any rent to own contract be in writing and signed by both parties. It must include all essential terms before it is signed, and a copy of the signed contract must be delivered to you.

In Florida, under F.S. §725.01, all leases greater than one year are void unless they are in writing. There is an exception to the Statute of Frauds, which can make an oral contract for a commercial lease greater than one year enforceable.

Yes, a contract to lease (or lease agreement) is legally binding in Florida. Both oral and written lease agreements are legal and enforceable in Florida. Written lease agreements must be signed in order to be legally binding, and the landlord must sign the lease in the presence of two witnesses.

How long is a typical commercial lease? Commercial leases are typically three to five years. That guarantees enough rental income for the landlords to recoup their investment.

A Florida rent-to-own lease agreement allows the tenant an option to purchase the property under pre-determined terms. Similar to a standard lease, the landlord will request a financial background check on the tenant. If approved, the landlord will sign a lease and establish the terms for purchasing the property.

Florida law requires that any rent to own contract be in writing and signed by both parties. It must include all essential terms before it is signed, and a copy of the signed contract must be delivered to you.

Both landlords and tenants can terminate a month-to-month lease at any time, as long as they inform the other person in writing at least 15 days before the next rent payment is due. This timeline is much quicker than in other states, which generally require at least a month's notice.

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Florida Lease to Own for Commercial Property