Store Lease-Tenant Oriented is a type of commercial lease agreement between a landlord and a tenant who are both interested in leasing a store or retail space for business purposes. The lease typically outlines the length of the lease, the terms of the rental agreement, the rent, the security deposit, and the tenant's and landlord's responsibilities. It also outlines the tenant's rights, such as the right to sublease or assign the lease, and the landlord's rights, such as the right to determine the tenant's use of the premises. There are two main types of Store Lease-Tenant Oriented: Triple Net (NNN) Leases and Gross Leases. A Triple Net (NNN) Lease requires the tenant to pay a base rent plus the additional costs of taxes, insurance, and maintenance. In a Gross Lease, the landlord pays for taxes, insurance, and maintenance in addition to the base rent.
Store Lease-Tenant Oriented
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FAQ
Percentage rent, or a percentage lease, is a type of lease seen in commercial real estate. It is a rental charge based on the gross income of the tenant rather than a fixed monthly or annual value.
A net lease is a type of lease where the tenant pays a portion or all of the property taxes, insurance fees, and maintenance costs for a property, in addition to base rent.
Percentage leases are most commonly used for retail properties (especially malls). In a percentage lease, tenants pay a base rent plus a portion of the gross sales they make from conducting business in the building.
In a full-service gross lease, a tenant pays a base rate. All operating expenses, including property taxes, property insurance, utilities, and common area maintenance, are paid for by the landlord. Hence, why it is called full service!
Gross leases are most common for commercial properties such as offices and retail space. The tenant pays a single, flat amount that includes rent, taxes, utilities, and insurance.
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.