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Lease agreements are legally binding contracts between a lessor (the property owner) and a lessee (the tenant) that outline the terms and conditions for renting residential or commercial property. These agreements typically specify the duration of the lease, the amount of rent, payment terms, and rules regarding the use of the property. They may also cover maintenance responsibilities, security deposits, renewal options, and procedures for terminating the lease. Lease agreements are essential for protecting the rights and obligations of both parties, ensuring clarity and legal recourse in case of disputes.
Two retail lease agreements have been recently signed, resulting in full occupancy for shopping centers in Somerset and Monmouth counties, according to a statement by Levin Management Corp. The company,…