A commercial lease is a contract for the lease of retail, office or industrial premises between a lessor and a tenant. The tenant pays a monthly amount to the lessor in exchange for the right to use the premises for commercial purposes. Commercial leases are usually longer than housing types, between 3 and 5 years, and it is common for the tenant to have renewal options at predetermined monthly payments. If this lease can be described as a gross lease, select the box next to the word “gross”. The tenant must initialize the line “Initials of the tenant” and the lessor the line “Initials of the owner”. Choose this option only if the rental amount reported in the fourth article is the only dollar amount that the tenant must pay to remain compliant with the terms of this agreement. The agreement between these two parties may require either party to pay for certain expenses deemed necessary for the rental of such premises. If yes, select the “Modified Raw” box. In addition, the tenant and landlord must initialize the empty lines called “tenant initials” or “lessor initials”. Two additional sections of this selection need information. List any additional expenses of the tenant on the first sentence of empty lines (in the statement “In addition to the base rent…” »). If the landlord has to pay the fee for maintaining this agreement, please list them in the second row of empty lines. This expenditure may extend to distribution undertakings (e.g.
B electricity), services (e.g. B waste management) or insurance. Please note that only expenses authorized by law are allowed. If it is a “triple net (NNN)”, select the third check box. Both the landlord and the tenant must initialize this choice in the blank lines (“tenant`s initials” and “landlord`s initials”) indicated accordingly. We need some insurance information on the third point in this leasing description (“III. Insurance”). Report how much within a single limit limit the injury should be maintained on the tenants` site using the first two empty lines….