This lease deed is designed for leasing or renting of commercial property. Lease deed is a legal document which lays out the prescribed terms and conditions under which the property is leased out. Lease deed must contain information about the lessor, lessee, tenure of lease, lease payments payable and other terms to be followed by the lessee and lessor during the lease term. Though the relationship between the land lord and the tenant is cordial most of the time, it is good to have a written rental agreement in place if the relationship turns sour or becomes fraught with complaints and misunderstandings.