Warehouse Lease Agreement

By this agreement, a lessor agrees to rent the warehouse space or storage unit to a person for a specified time. This agreement is needed to make sure the terms on which the warehouse is being rented are fair for both the parties and any misunderstanding can be resolved easily in case of conflicts. This agreement can help in getting a property on right terms.

To make this agreement legally enforceable,it should be printed on a non judicial stamp paper and signed by both the concerned parties. Use this agreement if: 1.You as an owner/lessor want to rent out a warehouse. 2.You as an individual or company wish to hire a warehouse to store your goods or for any other purposes.

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Frequently Asked Questions

By this agreement, a lessor agrees to rent the warehouse space or storage unit to a person for a specified time. This agreement is needed to make sure the terms on which the warehouse is being rented are fair for both the parties and any misunderstanding can be resolved easily in case of conflicts. This agreement can help in getting a property on right terms.
Who needs this agreement and why?
To make this agreement legally enforceable,it should be printed on a non judicial stamp paper and signed by both the concerned parties. Use this agreement if: 1.You as an owner/lessor want to rent out a warehouse. 2.You as an individual or company wish to hire a warehouse to store your goods or for any other purposes.
What is the use of Annexure?
The following are all the major clauses included in this agreement:
  1. Term- states the particular timeline including the commencement date.
  2. Premises- describes the ownership and location of the property. Also, defines the purpose of the lease.
  3. Rent and Maintenance charges- contains information regarding rent amount, late payment charges and bill payment.
  4. Security Deposit- governs conditions regarding security deposit and its use.
  5. Possession- outlines the process of transfer of possession.
  6. Use of Premises- includes do's and don'ts regarding the use of premises.
  7. Insurance- detailed lines about insurance requirements relating to the property.
  8. Taxes-assigns the duty of payment of taxes and underlines the consequences of default.
  9. Maintenance and Repair- mentions the duty of the lessee to develop, improve and repair the premises of the leased property.
  10. Hazardous Materials- provides against keeping dangerous things inside the premises.
  11. Access to Lessor- states the right of the lessor to enter the premises.
  12. Assignability and Subletting- ensures that the lessee would pay for the specified period without any interruption.
  13. Termination- timeline for the validity of the agreement.
  14. Dispute Resolution- explains how a problem will be resolved in case of a dispute.
  15. General Provisions- outlines the general terms of the agreement including modification, jurisdiction, acts of God etc.
These are a few terms which might be useful to read about for a better understanding of this agreement:
  1. Lessor-the person or company who leases a property to another. Commonly called the landlord.
  2. Lessee-the person to whom a property is leased or let out the. Commonly called the tenant.
  3. Demised Premises-refers to the property that has been leased out.
  4. Lock-In Period-the minimum period for which the property is to be leased.
  5. Waiver-defined as the voluntary surrender of a right or privilege.
  6. Assignability-refers to whether or not the agreement cannot be assigned, which means whether or or not the agreement can be transferred to another person or entity - transferring the liabilities and responsibilities and privileges.
  7. Subletting-leasing of a property to a sub tenant.
  8. Force Majeure-refers to events commonly called the 'Acts of God', these are unavoidable and unforeseen events beyond the control of either party. Examples are earthquakes, hurricanes, floods, wear and tear, wear and tear due to fire, terrorist attacks, wars, riots, and raids, among other things.
  9. Severability-refers to the concept that if parts of the contract are held to be illegal or otherwise unenforceable, the remainder of the contract shall still apply.
What are the legal jargons used in this agreement?
There is no Annexure section in this agreement.
How to use this agreement?
The following are all the major clauses included in this agreement:
  1. Term- states the particular timeline including the commencement date.
  2. Premises- describes the ownership and location of the property. Also, defines the purpose of the lease.
  3. Rent and Maintenance charges- contains information regarding rent amount, late payment charges and bill payment.
  4. Security Deposit- governs conditions regarding security deposit and its use.
  5. Possession- outlines the process of transfer of possession.
  6. Use of Premises- includes do's and don'ts regarding the use of premises.
  7. Insurance- detailed lines about insurance requirements relating to the property.
  8. Taxes-assigns the duty of payment of taxes and underlines the consequences of default.
  9. Maintenance and Repair- mentions the duty of the lessee to develop, improve and repair the premises of the leased property.
  10. Hazardous Materials- provides against keeping dangerous things inside the premises.
  11. Access to Lessor- states the right of the lessor to enter the premises.
  12. Assignability and Subletting- ensures that the lessee would pay for the specified period without any interruption.
  13. Termination- timeline for the validity of the agreement.
  14. Dispute Resolution- explains how a problem will be resolved in case of a dispute.
  15. General Provisions- outlines the general terms of the agreement including modification, jurisdiction, acts of God etc.

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