Types Of Commercial Lease
There are many people who prefer rental property because some of them to use the property for the limited period and some of the people cannot afford to pay a single heavy amount in a one go that’s why people prefer leasing the property. Some of the people buy the property so that they can give on rent and earn money. For example, you have money and you want to invest in something which can give you return on a monthly basis, now the question is where you invest your money, you invest your money by buying a commercial property so that you can further give on rent and earn money, by this act you able to invest your money and get maximum profit from it. You need to concern commercial leasing lawyer can make a contract which can be between you and the tenant who accept all the term and conditions which he/she needs to follow and you also need to follow it because you cannot ask him to leave your property because you should also need to follow the terms and conditions. You can take commercial lease legal advice from the commercial leasing lawyers. There are different types of the commercial lease which you may find in commercial real estate which are following.
Most of the landlord prefers the net lease because in net lease the tenant has to pay each and everything which include the tax, expenses, utility bills, maintenance and if anything needs to repair, tenant has to repair it. This is the contract signed by both the parties and they agreed on this decision. In that case, the amount of the rent is low because tenant bears all the expenses which are important.
- Single net lease
In single net lease, all the taxes which need to pay is the responsibility of the tenant, the landlord has the no responsibility of paying tax because the tenant will pay on behalf of the landlord.
- Double net lease
Insurance is important we all for hundreds of reasons and property insurance is most important, so in the double net lease the tenant has to pay the insurance premium and property tax as well and maintenance expense will be paid by the landlord.
- Triple net lease:
In the triple net lease, the tenant agrees to pay the real estate taxes, building insurance and the maintenance all the responsibilities are solely on the tenant.
When you take a decision to rent your property you need a commercial leasing lawyer who can help you out because you want to everything legally so that nobody claim and backfire on you, Elease lawyer is one the best firm they have experienced lawyer you can help you.