Az Commercial Lease With Lease Gilbert
Description
How to fill out Arizona Commercial Building Or Space Lease?
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FAQ
Taxes, Utilities, Insurance, and Other Expenses There are three possible arrangements for commercial leases: gross lease, triple net, and modified-gross lease. In a gross lease, the landlord is responsible for all costs. Furthermore, in a triple-net lease, the tenant is responsible for all costs.
There are five counties in the state of Arizona that require you to collect and remit county taxes for commercial leases. Those counties are Coconino, Gila, Maricopa, Pima and Pinal.
The combined rate is 11.57% for the State/County and Town of Gilbert. If you are renting out a commercial building than it is taxable at 1.5% to Gilbert and 0.5% to Maricopa County. The combined rate is 2.0%. Check out our Real Property Rental page for more information.
Once the landlord's consent has been obtained, the tenant and assignee can enter into a deed of assignment to transfer the lease to the assignee. If the lease is registered at the Land Registry the assignee will then need to register the assignment at the Land Registry.
By contrast, an assignment occurs when you transfer all your space to someone else (called an assignee) for the entire remaining term of the lease. As with a sublet, you are free to choose your assignee and determine the rent unless your lease says otherwise.