Arkansas Commercial Lease Agreement
An Arkansas commercial lease agreement is a legally binding document that governs the relationship between landlords and tenants in commercial leasing transactions within the state. This agreement outlines essential terms and conditions, including lease duration, rent specifications, and property tax responsibilities, while establishing clear expectations for both parties involved.
Arkansas Commercial Lease Agreement
Lease Duration and Rent Specifications
The agreement specifies the duration of the lease and the conditions related to rent payments. These elements are critical in defining the financial and temporal commitments of both the landlord and the tenant.
Property Taxes
The lease agreement also addresses the responsibilities regarding property taxes, ensuring that both parties understand their obligations in this area.
Lease Renewal Options
Provisions for lease renewal options are included in the agreement. This allows both parties to extend the lease under mutually agreeable terms, which can contribute to the success of businesses and help maintain high occupancy rates for landlords.
Arkansas Business Entity Search
Landlords have the ability to verify the registration status of corporations and other business entities in the state of Arkansas. This is an important step to ensure that the tenant is a legitimate business entity.
Legal Requirements
Rental Laws
The relevant rental laws for commercial leases in Arkansas are outlined in Arkansas Code § 18-17-912.
Consumer Protection Laws
Consumer protection laws applicable to commercial leases are specified in Ark. Code § 4-2A-104 (1)(c).
Jurisdiction
According to Ark. Code § 4-2A-106, the legal jurisdiction for enforcing the lease agreement should be either:
- Where the lessee resides at the time the lease agreement becomes enforceable, or within 30 days thereafter, or
- Where the leased property is located.
If the selected law or forum does not have jurisdiction over the lessee, the choice of jurisdiction is not enforceable.
Statutes
- A.C.A. § 18-16-303 – Security Deposit Exceptions
- A.C.A. § 18-16-304 – Security Deposit Maximum
- A.C.A. § 18-16-305 – Deadline for Returning Security Deposit
- Ark. Code § 18-16-306 – Remedies
- A.C.A. § 5-37-307 – Returned Check Fees (Part 1)
- A.C.A. § 5-37-304 – Returned Check Fees (Part 2)
- A.C.A. § 18-17-401 – Rent Is Due
- A.C.A. § 18-17-701(b) – Rent Grace Period
- A.C.A. § 18-17-701(2) – Landlord Allowed to Recover Court and Attorney Fees (Part 1)
- A.C.A. § 18-17-704 – Landlord Allowed to Recover Court and Attorney Fees (Part 2)
- A.C.A. § 18-17-704 – Notice to Terminate Tenancy (Month-to-Month Lease)
- A.C.A. § 18-17-704 – Notice to Terminate Tenancy (Week-to-Week Lease)
- A.C.A. § 18-17-701 – Termination for Nonpayment (Part 1)
- A.C.A. § 18-16-101 – Termination for Nonpayment (Part 2)
- A.C.A. § 18-17-901(b) – Termination for Nonpayment (Part 3)
- A.C.A. § 18-17-601 – Tenant’s Duties
- Ark. Code § 18-17-602 – Access
- A.C.A. § 18-16-108 – Abandonment of Personal Property
- A.C.A. § 18-16-112(b) – Domestic Violence Situations: Protection from Termination
- A.C.A. § 18-16-112(b) – Domestic Violence Situations: Locks
- A.C.A. § 18-16-112(d) – Domestic Violence Situations: Proof of Status
- A.C.A. § 18-60-304 – Termination for Lease Violation
- A.C.A. § 20-27-608 – Retaliation Prohibition (Lead Hazards)
- A.C.A. § 16-56-111 – Statute of Limitations for Written Contracts
- Ark. Code § 18-17-502(d)(3) – Implied residential quality standards
FAQs
An Arkansas commercial lease agreement is a legally binding document that outlines the terms and conditions between landlords and tenants for leasing commercial properties in the state. It covers essential aspects such as lease duration, rent specifications, property taxes, and lease renewal options.
Key requirements for commercial leases in Arkansas include compliance with Arkansas Code § 18-17-912, which governs commercial leases, and adherence to consumer protection laws under Ark. Code § 4-2A-104. Additionally, the jurisdiction for legal matters should be determined based on where the lessee resides or where the leased property is located.
Landlords can verify if corporations and other business entities are registered in Arkansas through the Arkansas Business Entity Search. This tool helps ensure that the tenant is a legitimate business before entering into a lease agreement.
Tenants in Arkansas have the option for lease renewal as outlined in the commercial lease agreement. This provision allows both parties to extend the lease under mutually agreeable terms, which can contribute to business stability and maintain high occupancy rates for landlords.
If the selected jurisdiction lacks authority over the lessee, the choice of law or forum is not enforceable according to Ark. Code § 4-2A-106. This means that any legal proceedings related to the lease may not be valid if the jurisdiction does not have proper authority.