South Dakota Commercial Lease Agreement
Lease office or retail space to a business tenant with this standard form South Dakota Commercial Lease Agreement.
- Renewal. Option for the tenant to renew for an additional term at the end of the lease.
- Property Taxes. Alternate provisions for taxes to be paid by either the landlord or the tenant, as applicable.
- Insurance. The tenant is responsible for carrying comprehensive public liability, fire and extended coverage insurance.
- Structural Repairs. Alternate provisions depending on whether the landlord is responsible for mechanical and structural repairs, or if the tenant is responsible for all repairs.
- Parking. Parking areas are to be shared by all tenants and their employees and customers.
- Damage or Destruction.Provisions for termination or for abatement of rent in the event of damage, destruction, or condemnation of the building.
- This lease agreement template is fully editable to fit your needs.
- Intended for use only in the State of South Dakota.
South Dakota Guaranty of Commercial Lease
- The guaranty is given by a principal of the company, such as a shareholder, partner, sole proprietor or some other person with a financial interest in the tenant.
- A guarantee of this type is typically required as an inducement to the lessor ⁄ landlord to sign the lease.
- The guarantor guarantees payment of all rent and other amounts due under the lease, including the payment of legal fees incurred by the landlord in enforcing the terms of the lease.
South Dakota Commercial Sublease Agreement
Sublet all or part of your leased business space to a subtenant with this South Dakota Commercial Sublease Agreement for office or retail premises.
The South Dakota Commercial Sublease Agreement is designed for tenants who wish to sublet all or a portion of their leased business space, whether for office or retail use, to another party (the subtenant).
Security Deposit Requirements
Under this Agreement, the subtenant is required to pay a security deposit to the original tenant. This deposit serves as financial assurance for the original tenant, addressing potential damages or unpaid dues under the sublease.
Rent Payment Structure
The subtenant pays the rent to the original tenant. The original tenant, in turn, remains responsible for making rent payments to the landlord according to the terms of the head lease.
Obligations of the Original Tenant
Even after entering into a sublease agreement, the original tenant must continue to perform all obligations set forth in the head lease. The original tenant’s responsibilities under the lease do not transfer to the subtenant.
Assignment of Interest
The original tenant assigns its interest in the sublease agreement to the landlord, providing an added layer of protection for the landlord.
Default Provisions
If the original tenant defaults on any obligations under the head lease, the tenant may instruct the subtenant to pay rent directly to the landlord rather than to the tenant.
Format and Customization
This South Dakota Commercial Sublease Agreement is available in Microsoft Word format. It is fully editable and reusable, making it both convenient and cost-effective.
