This list does not contain everything that needs to be described in the commercial lease agreement. Depending on the nature of the property or activity, it may be necessary to apply more specific provisions. The document is perfect for simple business leases over shorter periods. It clearly defines the rights and obligations of the landlord and tenant and provides for options such as sureties and exclusion from pp. 24 to 28 of the Landlord and Tenant Act 1954, as well as adaptation by both parties for certain rights and obligations on the property for rent. ☐ Subletting is not permitted. The Tenant will not assign this agreement in all or all of demised`s premises, nor will it proceed or approve a total or partial sublease or any other transfer of part or any premises. Ownership is the entire property that belongs to the owner.