A commercial lease agreement is a legal document that defines the arrangement between the property owner and the lessee for the use of the commercial property. This legal contract is also known as a business lease or commercial lease. A lease agreement is generally a written document and must include the conditions for the rental of the property, including the amount of rent, the due date for rent payments, the amount of the security deposit, tenant and owner repair obligations, taxes and expenses. The agreement should also state the names of all parties, the property address and a start and stop date for the contract.