Oregon Sublease of Office and Warehouse Space
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FAQ
Commercial property can be converted into a residential property if zoning and housing laws allow. Local governments have regulations dictating property distinctions and, in most cases, will distinguish specific areas for residential versus commercial land use.
Leased space means the individual storage space at the self-service facility which is leased or rented to an occupant pursuant to a rental agreement.
If you purchase a building that is registered as commercial property, then you may need to obtain planning permission before you go ahead and convert it to residential accommodation.
Average commercial lease lengths are 3-5 years, however it's contingent on market conditions, the existing condition of the space, your credit, and the scope of tenant improvements needed.
Office Lease means any space Lease solely for an office or any other administrative operations, but specifically excluding all Mining Leases and Prep Plant Leases.
The two most common types of leases are operating leases and financing leases (also called capital leases).
Most commercial leases forbid subletting. There is a good reason for that. As soon as more than two parties are involved, agreement becomes more difficult and conflict more likely. Furthermore, the head landlord, who of course owns the property, is less able to enforce his rights.
The Benefits of Subleasing Your Office Space In practice, this means a company can expect to offset some of their leasing costs with revenue from a sublessee. This cost-avoidance strategy is a material benefit for companies that successfully sublease out excess office space.
It's legal and common for commercial properties in Portland. They require your tenants to pay a monthly rent and also to contribute or completely pay for the expenses associated with operating the building and the communal spaces. This might include taxes and utilities as well as maintenance.
Except as otherwise provided by statute or agreement, such tenancy may only be terminated by either the landlord or tenant giving the other, at any time during the tenancy, not less than 30 days' notice in writing prior to the date designated in the notice for the termination of the tenancy.
