How is a "commercial lease" defined?

A commercial lease is specifically defined as a contract for renting commercial real estate for business purposes. This type of lease is tailored for properties used in the operation of a business, such as office buildings, retail spaces, industrial properties, and warehouses.

This distinction is significant because commercial leases often contain different terms and conditions compared to residential leases, focusing on factors such as lease length, maintenance responsibilities, and property usage types. Commercial leases can also include provisions that are designed to meet the specific needs of businesses, such as signage rights or the ability to make renovations to the property.

The other definitions do not align with the correct definition of a commercial lease. Contracts for residential property pertain to homes and apartments, verbal agreements lack the legal enforceability of written contracts typically associated with commercial leases, and agreements for vacation homes are considered short-term leases rather than commercial leases aimed at business operations.