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How Do Commercial Property Leases Work?

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1 2024-07-31T11:35:51+00:00
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Wondering how do commercial property leases work? Commercial property leases work differently from residential leases. 

How Does Commercial Lease Work?

Here are the key points:

Purpose:

  • Commercial leases involve renting property for business purposes (e.g., offices, retail spaces, warehouses).

  • They are typically longer-term than residential leases.

Types of Commercial Leases:

  • Gross Lease: Tenant pays a fixed rent, and the landlord covers operating expenses (e.g., maintenance, utilities).

  • Net Lease: Tenant pays a base rent plus additional costs (e.g., property taxes, insurance, maintenance).

  • Percentage Lease: Common for retail spaces; tenant pays a percentage of sales in addition to base rent.

Lease Terms:

  • Commercial leases are negotiable and customized.

  • Terms include rent amount, duration, renewal options, and any special conditions.

Responsibilities:

  • Landlords maintain the property structure and common areas.

  • Tenants handle interior maintenance and improvements.

Legal Aspects:

  • Consult legal professionals to review lease terms.

  • Understand rights related to subleasing, alterations, and early termination.

I hope this helps you understand how does commercial real estate leasing work.

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Advocate Apurva

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