Commercial Leases – Mastering Different Lease Types When Evaluating

Leasing has become a common phenomenon in today’s world. Apart from the conventional residential leases the industrial sector offers leasing in several varied spheres. One can go for a retail lease in a suburb or an agency lease in some major city; these two leases are different in their own fields. Sample leases come in a wide range of choices that one should be well aware of. 

To begin with, there is the land or ground lease which is a huge profitable business as the tenant builds property on the leased land until the contract gets over. Gross lease requires both the tenant and the landlord to pay the lease. A net lease and a triple net lease is where the tenant pays the rent and other upkeep charges, only the amount increases in the latter case. A purchasing middle lease allows the tenant to pay the basic price and the landlord to relocate the tenant. 

While a grasp lease is a lease commanding other leases, a step lease is when the rent is elevated in a yearly basis. The other lease types would be cost-of-living leases, master leases and looking-center leases.  These sample leases enables you to get acquainted with the lease structure in the commercial sector.

Lease for Renting part of building in an office park

If you are interested to sell your property or buy one, the first thing that you should keep in mind is to check the lease properly. Sample leases help you to go through each and every detail of the agreement before you opt to choose or sell any property. 

In case of a part of building that you want to rent in an office park you should not forget to mention every detail in the agreement, such as its location and its surroundings, the structure of the building, the security deposit to be paid, its subleases, broker for the landlord, its surrounding area and other such specific details. Sample leases help you to keep a detailed record of the tenant, as in his permanent address, his phone number, and billing address.

 The terms and conditions should be clearly specified to avoid any mishaps. Both the parties should have a crystal clear knowledge about the date on which the contract gets over, the allotted premise of the building in which the office work can be done, the square feet of the building, the tenant’s share on it and the penalties for committing any illegal activities.