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A type of commercial real estate lease under which you typically pay the base rent, plus property taxes, building insurance and utilities, as well as other operating and maintenance costs. The landlord assumes no costs, other than those for structural repairs.
Percentage leases are most often used with retail tenants. Multi-tenant retail properties, such as malls and shopping centers, use this type of lease because it benefits both parties involved.
Questions to Ask When Viewing a Commercial Property What type of commercial lease is being offered? ... What is the minimum lease term? ... What amenities are included? ... What insurance coverage is required? ... How much parking is allotted to the renter? ... Is there room for expansion? ... Can you make changes to the office space layout?
A Kansas month-to-month rental agreement is a type of lease that allows the landlord or tenant to cancel with thirty (30) days' notice. This is common for seasonal or short-term tenants, although can go as long as both parties agree to continue the arrangement.
12 Important Things to Look for in a Commercial Lease Agreement Lease Term Type. Rent Amount. Security Deposit Requirements. Permitted Use. Exclusive Use. Maintenance and Renovations. Exterior Appearance. Insurance Requirements.
Essential Elements of an Agreement to Lease identify the parties (landlord and tenant); provide a description of the premises to be leased; provide a commencement date that is fixed or determinable (and not uncertain); provide a term; set out the rent; and.