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Long Term Lease Agreement Template for Canada

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Key Requirements PROMPT example:

Long Term Lease Agreement

"I need a Long Term Lease Agreement for a commercial property in Ontario, Canada, where we plan to operate a tech startup incubator space with shared facilities and subletting rights to startups, commencing March 1, 2025."

Document background
The Long Term Lease Agreement is a fundamental document in Canadian real estate transactions, typically used for lease terms extending beyond three years. It serves as the primary instrument for documenting extended tenancy arrangements in commercial, industrial, or significant residential properties. The agreement is essential when parties seek to establish a stable, long-term occupancy relationship with detailed terms governing property use, maintenance, and financial obligations. This document must comply with both federal Canadian laws and specific provincial regulations governing property rights and tenancies. It includes comprehensive provisions for rent calculations, property maintenance, improvements, insurance requirements, and dispute resolution mechanisms. The agreement is particularly relevant for businesses seeking stable locations for their operations or property owners looking to secure long-term, reliable tenants while protecting their real estate assets.
Suggested Sections

1. Parties: Identification and details of the landlord and tenant, including full legal names, addresses, and registration details if companies

2. Background: Context of the lease arrangement and brief description of the property

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

4. Demised Premises: Detailed description of the leased property, including boundaries, common areas, and included fixtures

5. Term and Renewal: Length of the lease, commencement date, expiry date, and renewal options

6. Rent and Additional Rent: Base rent amount, payment schedule, rent review mechanisms, and additional rent components

7. Security Deposit: Amount, terms, and conditions for the security deposit

8. Use of Premises: Permitted uses of the property and any restrictions

9. Maintenance and Repairs: Responsibilities of both parties regarding property maintenance and repairs

10. Utilities and Services: Responsibility for utilities, services, and related costs

11. Insurance: Required insurance coverage for both parties

12. Assignment and Subletting: Terms and conditions for assigning or subletting the premises

13. Default and Remedies: Events of default and available remedies for both parties

14. Termination: Conditions and procedures for lease termination

15. Notices: Process and requirements for formal communications between parties

16. Governing Law: Specification of applicable Canadian jurisdiction

17. Execution: Signature blocks and witness requirements

Optional Sections

1. Environmental Matters: Required when the property has specific environmental concerns or requirements

2. Operating Costs: Used in net leases to detail the calculation and payment of operating costs

3. Tenant Improvements: Include when specific improvements or modifications are permitted or required

4. Parking: Required when parking spaces are included in the lease

5. Signage Rights: Include when the tenant has rights to install exterior or interior signage

6. Property Management: Used when specific property management arrangements need to be detailed

7. Force Majeure: Include to address unforeseen circumstances affecting lease obligations

8. Option to Purchase: Include when tenant is given the option to purchase the property

9. Exclusive Use: Used in commercial contexts where tenant is granted exclusive rights for certain business activities

10. Green Building Requirements: Include when property must maintain specific environmental certifications

Suggested Schedules

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

2. Schedule B - Legal Description: Legal description of the property as registered

3. Schedule C - Base Rent Schedule: Detailed breakdown of rent payments throughout the term

4. Schedule D - Operating Costs: Detailed list of included operating costs and calculation methods

5. Schedule E - Rules and Regulations: Building or property rules and regulations

6. Schedule F - Tenant Improvement Specifications: Detailed specifications for any permitted or required tenant improvements

7. Schedule G - Service Level Standards: Standards for building services and maintenance

8. Schedule H - Environmental Requirements: Specific environmental obligations and standards

9. Appendix 1 - Condition Report: Initial condition report of the premises

10. Appendix 2 - Insurance Requirements: Detailed insurance requirements for both parties

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






































Clauses


































Relevant Industries

Commercial Real Estate

Retail

Industrial

Manufacturing

Healthcare

Professional Services

Hospitality

Warehousing and Distribution

Technology

Education

Financial Services

Entertainment and Recreation

Relevant Teams

Legal

Real Estate

Finance

Operations

Facilities Management

Risk Management

Compliance

Corporate Services

Business Development

Property Management

Relevant Roles

Real Estate Manager

Property Manager

Facilities Director

Chief Financial Officer

Legal Counsel

Operations Manager

Asset Manager

Leasing Manager

Risk Manager

Corporate Services Director

Business Development Manager

Real Estate Director

Compliance Officer

Finance Manager

General Counsel

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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