Ownership is the entire property that belongs to the owner. The half-ed premises are the area actually rented inside the property. For example, a mall has many different shops and common areas inside the building and common areas such as parking lots and sidewalks outside the building. The property is the entire shopping center, as well as the shops as well as the common areas inside and outside the building. The demised plot is one of the shops in the mall. Commercial leases are different from residential contracts in that they require unique terms for each contract – so it`s good that you can easily customize this template for free commercial rentals with our PDF editor! Update the terms of use of the premises, improvements and modifications, as well as any legal action in the event of a dispute. . . .