This is a commercial lease form for the State of Alabama. It is for leasing a building for any use, such as an office. This lease is very detailed and includes provisions addressing the areas of lease term, payment of rent, later charges, utilities, condition of premises, security deposits, default, termination, right of re-entry, holdover, and many other legal clauses. Make changes to suit your needs and agreement with your lessee.
Alabama Commercial Building or Space Lease
Category:
State:
Alabama
Control #:
AL-988LT
Format:
Word;
Rich Text
Instant download
Description Commercial Lease Form Agreement
Free preview Alabama Commercial Lease
How to fill out Commercial Lease Form Application?
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Commercial Lease Form Contract Form popularity
Commercial Building Space Other Form Names
Al Lease Form
Al Commercial Lease
Commercial Lease Form Sample
Commercial Building Lease Form
Commercial Building Lease Contract
Alabama Building Lease
Al Commercial Lease Form
Commercial Lease Form Blank FAQ
Just like a residential rental or lease, your commercial landlord is going to insist on a security deposit. The security deposit can be used by the landlord for a number of reasons, but most commonly it will be used to cover any damage at the end of your lease if you do not renew your agreement.
A typical commercial lease is a 5 and 5, meaning a 5 year lease, with an option to renew for another 5 years. Options usually must be exercised by writing a letter to the landlord some months before the initial lease term expires, expressly exercising the option.
Summary. There are different types of leases, but the most common types are absolute net lease, triple net lease, modified gross lease, and full-service lease. Tenants and proprietors need to understand them fully before signing a lease agreement.
The process for retailers qualifying for a commercial lease can vary from landlord to landlord. Landlords consider several factors including tenant mix, personal credit history of the owner, company balance sheet, profit and loss statements, open credit lines, and growth projections.
Triple Net Lease Arguably the favorite among commercial landlords, the triple net lease, or NNN lease makes the tenant responsible for the majority of costs, including the base rent, property taxes, insurance, utilities and maintenance.
If the commercial tenant is a shell corporation and/or does not have any assets of value, the commercial tenant may choose to walk away from its commercial lease obligations.Often the landlord will require guarantees in order to prevent a commercial tenant from walking away from its lease obligations.
A Triple Net Lease (NNN Lease) is the most common type of lease in commercial buildings. In a NNN lease, the rent does not include operating expenses. Operating expenses include utilities, maintenance, property taxes, insurance and property management.
A security deposit is typically an amount equivalent to one or two month's rent, which is deposited by the tenant to secure, as far as money can, the tenant's performance of the tenant's obligations under the Lease.
Single net lease. A single net lease, or net lease, is an arrangement where the tenant pay for utilities and property taxes. Double net or NN lease. A double net or NN lease is similar. Triple net or NNN lease. Full-service gross or modified lease.