Tennessee Air Rights Lease Agreement
Category:
State:
Tennessee
Control #:
TN-RE-L-938-01
Format:
Word;
Rich Text
Instant download
Description
In a commercial real estate lease, air rights are the exclusive right to occupy and use all or a portion of the space above the leased premises. Air rights leases are generally used for tenant spaces that need high ceilings or extra-wide floor plates. For tenants, air rights leases can provide more flexibility in terms of how they use their space and allows them to avoid potential conflicts with other tenants in the building. Landlords will often require an air rights lease when it's more valuable to them to have control over who uses the airspace rather than rent out the space at a lower rate. In some cases, landlords may also require an air rights lease when they need to make renovations that would affect the airspace occupied by a tenant.
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