A San Bernardino California Commercial Lease Extension is a legal agreement that allows a business tenant to continue occupying a commercial property in San Bernardino, California, for a specified period beyond the initial lease term. This extension provides an opportunity for the tenant to continue operating their business in the same location, benefiting from the established customer base, favorable location, and existing infrastructure. Keywords: San Bernardino, California, commercial lease, extension, tenant, property, business, lease term, location, customer base, infrastructure. Types of San Bernardino California Commercial Lease Extensions: 1. Fixed Term Extension: This type of extension grants the tenant a predefined additional period of occupancy, often for a fixed number of years, maintaining the existing lease terms and conditions. 2. Month-to-Month Extension: In cases where tenants prefer a flexible lease arrangement, a month-to-month extension allows them to continue their tenancy without a fixed end date. This type of extension typically requires a 30-day notice from either party to terminate the lease. 3. Renewal Option Extension: Some commercial leases include a provision allowing the tenant to renew the lease for a further term upon its expiration. This extension option grants the tenant the right to extend the lease for a predefined period, often with mutually agreed upon changes to terms and potential rent adjustments. 4. Rent Escalation Extension: A rent escalation extension occurs when the lease incorporates incremental rent increases over the extended period. This type of extension may be beneficial for landlords who want to adjust the rental rates to keep up with market conditions or cover increased property expenses. 5. Percentage Rent Extension: Commonly used in retail leases, a percentage rent extension requires tenants to pay a predetermined percentage of their sales revenue on top of the base rent. This extension allows landlords to participate in the tenant's success by sharing in their profitability. 6. Expansion Extension: If a tenant requires additional space to accommodate their growing business, an expansion extension allows them to extend their lease term while adding or incorporating adjacent units or within the same building complex. This type of extension provides a seamless expansion opportunity for the tenant without the need for relocation. In summary, a San Bernardino California Commercial Lease Extension provides the tenant with the ability to continue occupying their business property within the city of San Bernardino, California, benefiting from the established location and infrastructure. Different types of extensions exist, including fixed-term, month-to-month, renewal option, rent escalation, percentage rent, and expansion extensions, each offering unique advantages based on the tenant's specific needs and circumstances.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.