Wisconsin commercial lease agreement template

Wisconsin Commercial Lease Agreement

This Commercial Lease Agreement (the "Lease") is made and entered into as of this [Date of Execution], by and between [Landlord Name], a [Landlord Entity Type, e.g., Wisconsin LLC], with a principal place of business at [Landlord Address] ("Landlord"), and [Tenant Name], a [Tenant Entity Type, e.g., Wisconsin Corporation], with a principal place of business at [Tenant Address] ("Tenant"). Landlord's Registered Agent (if applicable) is [Registered Agent Name], located at [Registered Agent Address].

Property

The Landlord hereby leases to the Tenant, and the Tenant hereby leases from the Landlord, the premises located at [Property Address], legally described as [Legal Description], Suite/Unit [Suite/Unit Number] (the "Premises").

The rentable square footage of the Premises is [Rentable Square Footage] square feet, and the usable square footage is [Usable Square Footage] square feet.

Permitted Use:

Option A: The Premises shall be used for [Permitted Use, e.g., retail sales, office space, light industrial].

Option B: The Premises shall be used exclusively for [Specific Permitted Use].

Wisconsin Disclosure:

Option A: There are no known code violations or outstanding orders affecting the habitability or use of the Premises.

Option B: The following code violations or outstanding orders affect the habitability or use of the Premises: [Detailed Description of Code Violations].

Term

The term of this Lease shall commence on [Lease Commencement Date] (the "Commencement Date") and shall expire on [Lease Expiration Date] (the "Expiration Date").

Lease Type:

Option A: Fixed Term. The lease is for a fixed term.

Option B: Month-to-Month. The lease shall automatically renew on a month-to-month basis until terminated as provided herein.

Renewal/Extension:

Option A: Renewal Option. Tenant shall have the option to renew this Lease for [Number] additional term(s) of [Length of Renewal Term] each, provided Tenant gives Landlord written notice of its intent to renew at least [Number] days prior to the Expiration Date.

Option B: No Renewal Option. Tenant shall have no option to renew this Lease.

Early Termination:

Option A: Early Termination Permitted. Tenant may terminate this Lease prior to the Expiration Date upon payment of an early termination fee equal to [Amount or Formula].

Option B: Early Termination Not Permitted. Tenant may not terminate this Lease prior to the Expiration Date.

Holding Over:

Option A: Holding Over Permitted. If Tenant remains in possession of the Premises after the Expiration Date, such occupancy shall be deemed a month-to-month tenancy, subject to the terms and conditions of this Lease, as amended, and at a rent equal to [Percentage]% of the then-current rent.

Option B: Holding Over Not Permitted. Holding over is not permitted without the Landlord's written consent.

Rent

The base rent for the Premises shall be [Rent Amount] per [Month/Year], payable in advance on the [Day] day of each [Month/Year] (the "Rent").

Payment Method:

Option A: Rent shall be payable by check, money order, or electronic transfer to [Landlord Payment Instructions].

Option B: Rent shall be payable by wire transfer to the following account: [Bank Name, Account Number, Routing Number].

Late Fees:

Option A: If Rent is not received within [Number] days after the due date, Tenant shall pay a late fee of [Late Fee Amount]. (Note: Wisconsin law restricts late fees. Ensure compliance.)

Option B: No late fee will be charged if rent is received after the due date.

Interest:

Option A: Overdue Rent shall accrue interest at the rate of [Interest Rate]% per annum.

Option B: No interest will be accrued for overdue rent.

Escalation Clause:

Option A: Annual Increase. The Rent shall increase by [Percentage]% on each anniversary of the Commencement Date.

Option B: CPI Adjustment. The Rent shall be adjusted annually based on the Consumer Price Index (CPI).

Option C: Fixed Percentage. The Rent shall increase by a fixed percentage on [Date].

Option D: No Escalation. There shall be no rent escalation during the term of this Lease.

Rent Abatement/Free Rent:

Option A: Rent Abatement Period. Tenant shall receive a rent abatement for the first [Number] months of the term.

Option B: No Rent Abatement. Tenant will not receive a rent abatement during the term.

Security Deposit

Tenant shall deposit with Landlord a security deposit in the amount of [Security Deposit Amount] (the "Security Deposit") to secure Tenant's performance of its obligations under this Lease.

Use of Security Deposit:

Option A: The Security Deposit may be used by Landlord to cover unpaid Rent, damage to the Premises (beyond normal wear and tear), and other costs incurred by Landlord due to Tenant's breach of this Lease.

Option B: The security deposit cannot be used to cover unpaid rent.

Interest on Security Deposit: (Note: Wisconsin law may require interest accrual on security deposits under certain circumstances. Ensure compliance.)

Option A: Landlord shall hold the Security Deposit in an interest-bearing account, and any interest earned shall be [Paid to Tenant/Retained by Landlord].

Option B: Landlord is not required to put the security deposit in an interest-bearing account.

Return of Security Deposit:

Option A: Within [Number] days after the termination of this Lease and Tenant's surrender of the Premises, Landlord shall return the Security Deposit, less any deductions, together with an itemized statement of such deductions.

Option B: Landlord shall return the Security Deposit according to Wisconsin Statute Chapter 704.

Operating Expenses

Expense Structure:

Option A: Gross Lease. Landlord shall be responsible for all Operating Expenses.

Option B: Net Lease. Tenant shall be responsible for all Operating Expenses.

Option C: Modified Gross Lease. Landlord shall be responsible for [Landlord Expenses], and Tenant shall be responsible for [Tenant Expenses].

Option D: Triple-Net (NNN) Lease. Tenant shall be responsible for all Operating Expenses, including property taxes, insurance, and common area maintenance (CAM).

Operating Expenses Include:

Property Taxes: [Landlord/Tenant] Responsibility

Insurance: [Landlord/Tenant] Responsibility

Utilities (Gas, Electric, Water, Sewer, Trash): [Landlord/Tenant] Responsibility

Common Area Maintenance (CAM): [Landlord/Tenant] Responsibility

Janitorial Services: [Landlord/Tenant] Responsibility

Snow and Ice Removal: [Landlord/Tenant] Responsibility

Landscaping: [Landlord/Tenant] Responsibility

Property Management Fees: [Landlord/Tenant] Responsibility

Tenant Improvements

Tenant Improvements:

Option A: Build-Out Allowance. Landlord shall provide Tenant with a build-out allowance of [Dollar Amount] for improvements to the Premises.

Option B: No Build-Out Allowance. Landlord shall not provide Tenant with a build-out allowance.

Design Approval:

Option A: All tenant improvements are subject to the landlord's design approval.

Option B: Tenant improvements will not be subject to landlord approval.

Restoration:

Option A: Tenant shall restore the Premises to its original condition at the expiration or termination of this Lease.

Option B: Tenant is not required to restore the Premises.

Alterations and Additions

Alterations:

Option A: Tenant shall not make any alterations or additions to the Premises without Landlord's prior written consent.

Option B: Tenant can make reasonable alterations and additions to the Premises, provided the landlord is given notice.

Approval:

Option A: Landlord's consent shall not be unreasonably withheld, conditioned, or delayed.

Option B: Landlord's consent may be withheld for any reason.

Maintenance and Repair

Responsibilities:

Structural: [Landlord/Tenant] Responsibility

Non-Structural: [Landlord/Tenant] Responsibility

Building Systems (HVAC, Plumbing, Electrical): [Landlord/Tenant] Responsibility

Roof: [Landlord/Tenant] Responsibility

Parking Areas: [Landlord/Tenant] Responsibility

Notice of Repair:

Option A: Tenant shall provide Landlord with prompt written notice of any necessary repairs.

Option B: Tenant will provide verbal notice of any necessary repairs.

Use and Occupancy

Restrictions:

Option A: Tenant shall use the Premises only for the Permitted Use and shall comply with all applicable laws, ordinances, and regulations.

Option B: Tenant shall not engage in any activities that create a nuisance or disturb other tenants.

Subleasing/Assignment:

Option A: Tenant shall not sublease or assign this Lease without Landlord's prior written consent.

Option B: Tenant may sublease or assign this Lease with landlord consent, not to be unreasonably withheld.

Option C: Tenant can sublease or assign this Lease with no requirement to obtain landlord consent.

Exclusive Use:

Option A: Landlord grants Tenant the exclusive right to operate a [Type of Business] within the building.

Option B: Landlord does not grant the Tenant exclusive rights to operate any business.

Landlord's Right of Entry

Entry:

Option A: Landlord shall have the right to enter the Premises at reasonable times, after providing Tenant with [Number] hours' notice, for inspection, repairs, or other legitimate purposes.

Option B: Landlord shall have the right to enter the Premises at any time in case of emergency.

Compliance with Laws

Compliance:

Option A: Tenant shall comply with all applicable laws, ordinances, building codes, and zoning regulations.

Option B: Landlord is responsible for complying with applicable laws.

Wisconsin-Specific Compliance:

Option A: Tenant agrees to comply with all applicable Wisconsin statutes regarding commercial evictions and notices.

Option B: Tenant does not agree to comply with Wisconsin statutes regarding commercial evictions and notices.

Insurance

Requirements:

Option A: Tenant shall maintain commercial general liability insurance with minimum coverage of [Dollar Amount], and property insurance covering the Premises.

Option B: Landlord will be responsible for any required insurance for the property.

Additional Insured:

Option A: Tenant shall name Landlord as an additional insured on its liability insurance policy.

Option B: Tenant is not required to name the landlord as an additional insured.

Indemnification

Tenant Indemnification:

Option A: Tenant shall indemnify and hold Landlord harmless from any claims, damages, or liabilities arising from Tenant's use of the Premises or Tenant's negligence.

Option B: Tenant shall not indemnify the Landlord.

Landlord Indemnification:

Option A: Landlord shall indemnify and hold Tenant harmless from any claims, damages, or liabilities arising from Landlord's negligence.

Option B: Landlord will not indemnify the tenant.

Default and Remedies

Events of Default:

Option A: Tenant's failure to pay Rent or other charges when due, or Tenant's breach of any other term or condition of this Lease, shall constitute an event of default.

Option B: Tenant's failure to pay rent constitutes a default.

Remedies:

Option A: Upon an event of default, Landlord shall have the right to terminate this Lease, re-enter the Premises, and pursue all available remedies under Wisconsin law, including rent acceleration.

Option B: Remedies are limited to regaining possession of the property through the proper eviction process.

Cure Period:

Option A: Tenant shall have [Number] days to cure any default after receiving written notice from Landlord.

Option B: Tenant shall have [Number] days to cure a monetary default, and [Number] days to cure a non-monetary default.

Termination

Termination Rights:

Option A: Landlord shall have the right to terminate this Lease upon the occurrence of certain events, such as casualty, condemnation, or bankruptcy.

Option B: Tenant shall have the right to terminate this Lease upon the occurrence of certain events, such as casualty or condemnation.

Notice:

Option A: Written notice is required for termination of the lease by either party.

Option B: Verbal notice is required for termination of the lease by either party.

Personal Guarantee/Letter of Credit

Guarantee:

Option A: [Guarantor Name] personally guarantees the performance of Tenant's obligations under this Lease.

Option B: Tenant is not required to have a personal guarantee.

Signage

Signage Rights:

Option A: Tenant shall have the right to install signage on the exterior of the Premises, subject to Landlord's approval and compliance with all applicable municipal codes.

Option B: Tenant is not allowed to install signage on the exterior of the Premises.

ADA Compliance

Responsibility:

Option A: Tenant shall be responsible for ensuring that the Premises comply with the Americans with Disabilities Act (ADA).

Option B: Landlord shall be responsible for ensuring that the Premises comply with the Americans with Disabilities Act (ADA).

Parking

Allocation:

Option A: Tenant shall have the right to use [Number] parking spaces.

Option B: Tenant does not have the right to use parking spaces.

Casualty and Condemnation

Rights and Obligations:

Option A: In the event of a casualty or condemnation, this Lease shall terminate, and Tenant shall be entitled to a refund of any unearned Rent.

Option B: In the event of a casualty, rent shall be abated during the period of restoration.

Environmental Compliance

Compliance:

Option A: Tenant shall comply with all applicable environmental laws and regulations.

Option B: Landlord warrants there are no hazardous materials on the property.

Estoppel Certificate

Estoppel Certificate:

Option A: Tenant shall execute and deliver an estoppel certificate within [Number] days of Landlord's request.

Option B: Tenant is not required to provide an estoppel certificate.

Subordination and Attornment

Subordination:

Option A: This Lease shall be subordinate to any existing or future mortgages or deeds of trust affecting the Premises.

Option B: This Lease will be superior to any existing or future mortgages or deeds of trust affecting the Premises.

Brokerage Disclosure

Brokerage:

Option A: [Broker Name] represents the Landlord, and [Broker Name] represents the Tenant in this transaction.

Option B: No brokers were used in this transaction.

Notice

Notices:

Option A: All notices under this Lease shall be in writing and delivered by certified mail, return receipt requested, to the addresses set forth above.

Option B: Notices can be provided via email.

Dispute Resolution

Dispute Resolution:

Option A: Any disputes arising under this Lease shall be resolved through mediation in [City, Wisconsin].

Option B: Any disputes arising under this Lease shall be resolved through binding arbitration in [City, Wisconsin].

Governing Law:

Option A: This Lease shall be governed by and construed in accordance with the laws of the State of Wisconsin.

Option B: This Lease shall be governed by the laws of [State].

Special Wisconsin Legal Disclosures

Wisconsin Disclosures:

Option A: Landlord discloses that the property is subject to the following code compliance orders: [Detailed Description].

Option B: There are no known pending assessments or code compliance orders.

Miscellaneous

Entire Agreement, Amendment, Severability, Waiver, Counterpart, Electronic Signature, and Force Majeure.

Additional Clauses

Expansion Rights: [Details]

Right of First Offer/Refusal: [Details]

Exclusivity Arrangements: [Details]

IN WITNESS WHEREOF, the parties have executed this Lease as of the date first written above.

Landlord:

____________________________

[Landlord Name]

Tenant:

____________________________

[Tenant Name]