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Ontario|Landlord & TenantCommercial Landlords & Tenants 447 What law applies? Unlike residential tenancies, the law governing commercial leases generally treats landlords and tenants as equals, without giving tenants any additional protective rights. Although commercial landlords and tenants are free to enter into any type of agreement, they normally follow a standard commercial lease format.
If a landlord or tenant breaches the lease, they can be sued, and one remedy for a landlord when a tenant breaches a lease is for the landlord to have the tenant's personal property confiscated and sold. The sale proceeds are then applied against the outstanding amounts owed to the landlord under the lease.
The costs associated with a lease are often a significant part of a business's operating budget. Also, a business's location can be vital to its success. Before commercial landlords and tenants sign a lease, they usually consult their lawyers. For additional information on commercial tenancies you can refer to other sections of Legal Line .
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