This office lease provision states that the parties desire to allocate certain risks of personal injury, bodily injury or property damage, and risks of loss of real or personal property by reason of fire, explosion or other casualty, and to provide for the responsibility for insuring those risks permitted by law.
Louisiana Provision Allocation Risks and Setting Forth Insurance Obligations of Both the Landlord and the Tenant
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US-OL25023
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FAQ
Triple net lease/?NNN? lease This includes maintenance costs such as common area maintenance (CAM), insurance, and property taxes (represented by ?NNN?). Typically, these leases are longer-term and have a lower base rent because the tenant agrees to pay for all operating expenses.
A gross lease is the simplest form of commercial real estate lease. In a gross lease, the landlord is responsible for paying all operating expenses, including property taxes, insurance, and maintenance.
51 shall give the tenant or lessee the right to recover any portion of the security deposit wrongfully retained and three hundred dollars or twice the amount of the portion of the security deposit wrongfully retained, whichever is greater, from the landlord or lessor, or from the lessor's successor in interest.
What is a gross lease? Under a gross lease, the tenant pays a single flat fee for the use of the space. The landlord agrees to pay for any and all expenses that come with the property and its use, including taxes, insurance, utilities, and often repairs.
The term net lease refers to a contractual agreement where a lessee pays a portion or all of the taxes, insurance fees, and maintenance costs for a property in addition to rent. Net leases are commonly used in commercial real estate.
A gross lease is a type of lease agreement where the tenant pays a fixed rent amount to the landlord, and the landlord is responsible for covering all operating expenses including property taxes, insurance, and maintenance costs.
When it comes to a lease, the landlord cannot evict their tenant from the property in retaliation. This could make the tenant seek an attorney for help; in severe cases, these claims can go to a court in Louisiana.