A South Dakota commercial lease agreement is a legal contract between a landlord and a business tenant for leasing commercial property. Businesses preferring to rent can use it to obtain operational flexibility and capital retention. It should contain both parties’ obligations and rights, the relationship’s duration, and the rental amount.
South Dakota Business Entity Search: Aside from landlords conducting credit checks, they can also conduct business entity verification before finalizing the agreement.
REQUIREMENTS
Rental Laws: Title 57A, Chapter 2A: South Dakota Uniform Commercial Code.
Consumer Protection Laws: SD Codified Laws § 57A-2A-104.
Jurisdiction: According to SD Codified Laws § 57A-2A-106, the law selected in a lease agreement is not enforceable if it is from a jurisdiction different from where the lessee lives.
Commercial Security Deposits: The lessor must return a security deposit for a commercial property within 60 days after the tenancy ends. They can only withhold the whole deposit (or part of it) to cover damages or recover the tenant’s defaulted payments (SD Codified Laws § 43-32-24.1).
