Company Let Agreement for Canada

Company Let Agreement Template for Canada

A Company Let Agreement is a comprehensive commercial lease agreement used in Canadian jurisdictions to establish and govern the legal relationship between a commercial landlord and a corporate tenant. This document outlines the terms and conditions for the lease of commercial property, including rent payments, maintenance responsibilities, permitted use, insurance requirements, and other crucial aspects of the commercial tenancy relationship. The agreement incorporates relevant provincial commercial tenancy laws and regulations while addressing specific requirements of Canadian business and property law.

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What is a Company Let Agreement?

The Company Let Agreement serves as the primary legal instrument for establishing commercial tenancy relationships in Canadian business settings. This document is essential when a business entity seeks to lease commercial space for its operations, whether for office use, retail, industrial, or other commercial purposes. The agreement must comply with provincial commercial tenancy laws and federal regulations while addressing specific requirements of Canadian business and property law. A Company Let Agreement typically includes detailed provisions for rent, operating costs, maintenance obligations, insurance requirements, and various other terms crucial for commercial property occupation. It's particularly important for ensuring both parties understand their rights and obligations under Canadian law, including requirements for GST/HST, property taxes, and commercial property regulations.

What sections should be included in a Company Let Agreement?

1. Parties: Identification of the landlord and tenant, including full legal names, registration numbers, and registered addresses

2. Background: Context of the agreement, including brief description of the premises and purpose of the lease

3. Definitions: Detailed definitions of key terms used throughout the agreement

4. Demise: Formal grant of the lease, including precise description of the leased premises

5. Term and Renewal: Duration of the lease, commencement date, and any renewal options

6. Rent and Payment Terms: Base rent, payment schedule, rent reviews, and payment methods

7. Operating Costs and Additional Charges: Details of additional costs, including utilities, maintenance, and property taxes

8. Use of Premises: Permitted use of the premises and any restrictions

9. Maintenance and Repairs: Responsibilities for maintenance, repairs, and improvements

10. Insurance and Liability: Required insurance coverage and liability provisions

11. Default and Remedies: Events of default and corresponding remedies

12. Assignment and Subletting: Rules and procedures for assignment or subletting the premises

13. Termination: Conditions and procedures for termination of the lease

14. Governing Law: Specification of applicable Canadian law and jurisdiction

What sections are optional to include in a Company Let Agreement?

1. Tenant Improvements: Details of any permitted or required improvements to be made by the tenant, used when specific modifications are planned

2. Environmental Matters: Environmental obligations and compliance requirements, included for properties with specific environmental concerns

3. Parking: Allocation and rules for parking spaces, included when parking is part of the lease

4. Signage Rights: Rules and permissions for external and internal signage, used when signage is a significant consideration

5. Security Deposit: Terms relating to security deposit or other financial security, included when required by landlord

6. Operating Hours: Specified hours of operation and access rights, included for properties in shared or managed buildings

7. Common Areas: Rights and obligations regarding common areas, included for multi-tenant properties

8. Force Majeure: Provisions for unforeseen circumstances, particularly relevant post-COVID

9. Option to Purchase: Terms for tenant's right to purchase the property, included when this option is offered

What schedules should be included in a Company Let Agreement?

1. Schedule A - Floor Plan: Detailed plan of the leased premises including measurements and boundaries

2. Schedule B - Operating Costs: Detailed breakdown of operating costs and calculation methodology

3. Schedule C - Building Rules and Regulations: Specific rules and regulations governing the use of the premises and building

4. Schedule D - Tenant Improvement Specifications: Detailed specifications for any approved tenant improvements

5. Schedule E - Service Level Agreement: Details of services provided by the landlord

6. Schedule F - Environmental Compliance: Environmental requirements and compliance standards

7. Schedule G - Insurance Requirements: Detailed insurance requirements and coverage specifications

8. Appendix 1 - Condition Report: Detailed report on the condition of the premises at the start of the lease

9. Appendix 2 - Green Building Standards: Environmental and sustainability requirements if applicable

10. Appendix 3 - Security Protocols: Building security and access procedures

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Canada

Publisher

Genie AI

Document Type

Agreement Contract

Cost

Free to use
Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Retail

Professional Services

Manufacturing

Technology

Healthcare

Financial Services

Hospitality

Warehousing and Logistics

Education

Entertainment

Food and Beverage

Relevant Teams

Legal

Finance

Operations

Facilities

Real Estate

Risk Management

Compliance

Corporate Services

Administration

Property Management

Relevant Roles

Chief Financial Officer

Chief Operating Officer

Facilities Manager

Real Estate Manager

Corporate Counsel

Legal Counsel

Property Manager

Operations Director

Finance Director

Business Development Manager

Office Manager

Commercial Property Agent

Risk Manager

Compliance Officer

Corporate Services Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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