A store lease is a contract between a landlord and a tenant for the rental of commercial retail space. The tenant pays rent to the landlord in exchange for the right to use the property for their business. The store lease typically outlines the terms of the agreement, such as the length of the lease, the amount of rent, the responsibilities of the landlord and tenant, and the conditions of renewal or termination. There are several types of store lease, such as net leases, gross leases, modified gross leases, and percentage leases. Net leases require the tenant to pay a base rent plus a share of the operating costs of the property, whereas gross leases require the tenant to pay a flat rate for the entire space. Modified gross leases combine elements of a net and gross lease, and percentage leases are based on a percentage of the tenant’s sales.
Store Lease
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