Oakland Michigan Commercial Building or Space Lease

• Category: Michigan Landlord Tenant - Commercial Leases
• State: Michigan
• County: Oakland
• Control #: MI-988LT
• Format: Word; Rich Text

Description

This is a commercial lease form for the State of Michigan. 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. Oakland Michigan Commercial Building or Space Lease is a legal agreement between a property owner and a tenant, allowing the tenant to occupy and use a commercial building or space in Oakland County, Michigan, for a specified period of time, usually in exchange for rent payments. There are several types of commercial building or space leases available in Oakland, Michigan, including: 1. Full Service Lease: This type of lease includes all operating expenses, including utilities, maintenance, insurance, property taxes, and janitorial services. The tenant pays a fixed rent amount, and the landlord takes care of all the expenses. 2. Triple Net Lease (NNN Lease): In a triple net lease, the tenant is responsible for paying a base rent as well as additional costs like property taxes, insurance, and maintenance expenses. This type of lease shifts most of the financial responsibilities onto the tenant. 3. Gross Lease: A gross lease is a type of lease where the tenant pays a fixed monthly rent, and the landlord is responsible for paying all or most of the operating expenses and building maintenance costs. 4. Modified Gross Lease: A modified gross lease is a combination of a gross lease and a triple net lease. In this type of lease, the tenant and landlord agree to share certain operating expenses, such as property taxes or insurance costs, while the tenant pays a fixed rent amount. 5. Sublease: A sublease occurs when a tenant leases a part or the entire space they are leasing to a third party. This allows the original tenant to partially or fully offset their rent expenses. 6. Build-to-Suit Lease: A build-to-suit lease involves the landlord constructing a custom-building or modifying an existing one according to the tenant's specific requirements. The tenant leases the space once it is completed. When leasing a commercial building or space in Oakland, Michigan, it is crucial to consider factors such as location, size, amenities, lease term, lease type, and negotiation terms. Both landlords and tenants should consult with a reputable commercial real estate agent or attorney to ensure all legal obligations and agreements are properly addressed before signing a lease agreement.

Oakland Michigan Commercial Building or Space Lease is a legal agreement between a property owner and a tenant, allowing the tenant to occupy and use a commercial building or space in Oakland County, Michigan, for a specified period of time, usually in exchange for rent payments. There are several types of commercial building or space leases available in Oakland, Michigan, including: 1. Full Service Lease: This type of lease includes all operating expenses, including utilities, maintenance, insurance, property taxes, and janitorial services. The tenant pays a fixed rent amount, and the landlord takes care of all the expenses. 2. Triple Net Lease (NNN Lease): In a triple net lease, the tenant is responsible for paying a base rent as well as additional costs like property taxes, insurance, and maintenance expenses. This type of lease shifts most of the financial responsibilities onto the tenant. 3. Gross Lease: A gross lease is a type of lease where the tenant pays a fixed monthly rent, and the landlord is responsible for paying all or most of the operating expenses and building maintenance costs. 4. Modified Gross Lease: A modified gross lease is a combination of a gross lease and a triple net lease. In this type of lease, the tenant and landlord agree to share certain operating expenses, such as property taxes or insurance costs, while the tenant pays a fixed rent amount. 5. Sublease: A sublease occurs when a tenant leases a part or the entire space they are leasing to a third party. This allows the original tenant to partially or fully offset their rent expenses. 6. Build-to-Suit Lease: A build-to-suit lease involves the landlord constructing a custom-building or modifying an existing one according to the tenant's specific requirements. The tenant leases the space once it is completed. When leasing a commercial building or space in Oakland, Michigan, it is crucial to consider factors such as location, size, amenities, lease term, lease type, and negotiation terms. Both landlords and tenants should consult with a reputable commercial real estate agent or attorney to ensure all legal obligations and agreements are properly addressed before signing a lease agreement.