An Oregon commercial lease agreement is a binding contract in which a landlord and tenant record all conditions behind a rental arrangement for non-residential property. Tenants may enter such leases to conduct business, in whichever capacity (e.g., office, retail, and industrial use), in a commercial space they do not own but rent from a landlord/owner. Before executing any formal agreement, many landlords perform background checks on prospective renters and their businesses in order to determine eligibility. Tenants with little-to-no or subpar financial track records can bring in a co-signer through a personal guaranty, thus making them more appealing to landlords wary of prior history. Upon finalizing leasing terms, all parties shall sign the contract and begin fulfilling their legal obligations.
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