This is a commercial lease form for the State of Washington. 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.
Washington Commercial Building or Space Lease
Category:
State:
Washington
Control #:
WA-988LT
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Washington Commercial Building Or Space Lease?
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Property address. Monthly rent, generally calculated by square footage. Deposit amount. Purpose for which the space is being rented. Start date for the lease agreement. End date of the rental agreement. Names & signatures of all parties.
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.
Your lease is a legally binding contract, and you cannot simply walk away from it unless you have agreed with the landlord to terminate it early. In addition to the rent and other leasing costs, you could have to pay: Cost of advertising the property and finding a new lessee. Termination penalties.
The Introduction. The beginning of the lease agreement should contain the name of the landlord and tenant, as well as a statement of the agreement into which they are entering. Rent. Deposit. Taxes. Property Insurance. Utilities and Amenities. Remodeling and Improvements. Repairs and Maintenance.
Names of all tenants. Limits on occupancy. Term of the tenancy. Rent. Deposits and fees. Repairs and maintenance. Entry to rental property. Restrictions on tenant illegal activity.
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.
The Parties & Personal Guarantees. Lease Term & Renewals. Rent Payments and Expenses. Business Protection Clauses.
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.
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.