Wake North Carolina Commercial Building or Space Lease

• Category: North Carolina Landlord Tenant - Commercial Leases
• State: North Carolina
• County: Wake
• Control #: NC-988LT
• Format: Word; Rich Text

Description

This is a commercial lease form for the State of North Carolina. 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. Wake North Carolina Commercial Building or Space Lease refers to a legally binding agreement between a landlord and a tenant, where the landlord grants the tenant the right to occupy and use a commercial building or space located in Wake County, North Carolina, in exchange for rent payments. This lease agreement outlines the terms and conditions that both parties must adhere to throughout the lease term. The Wake North Carolina Commercial Building or Space Lease may vary depending on the specific requirements and nature of the commercial space. Here are a few types of commercial leases commonly found in Wake North Carolina: 1. Full-Service Lease: This type of lease includes both base rent and additional costs such as property taxes, insurance, utilities, and common area maintenance expenses. The tenant pays a fixed rent amount, and the landlord covers the remaining expenses. 2. Gross Lease: In this type of lease, the tenant pays a fixed monthly rent amount, and the landlord is responsible for all other expenses, including property taxes, insurance, utilities, and maintenance costs. 3. Triple Net Lease (NNN): A triple net lease requires the tenant to pay base rent, property taxes, insurance, and maintenance expenses. The tenant has direct responsibility for managing and covering these costs, in addition to the fixed rent amount. 4. Modified Gross Lease: This lease is a combination of a gross lease and a triple net lease. The tenant pays a fixed rent amount, and the landlord covers certain expenses, such as property taxes and insurance, while the tenant assumes responsibility for utilities and maintenance costs. 5. Percentage Lease: Particularly common in retail or commercial spaces, a percentage lease requires the tenant to pay a base rent along with a percentage of their gross sales. The rent amount fluctuates based on the tenant's performance. It is essential for both landlords and tenants to understand the specifics of the lease agreement, such as lease duration, rent escalation clauses, renewal options, permitted use, zoning regulations, property improvements, and any additional terms negotiated between the parties. Seeking legal advice before signing a Wake North Carolina Commercial Building or Space Lease is crucial to ensure compliance and protect the interests of all involved parties.

Wake North Carolina Commercial Building or Space Lease refers to a legally binding agreement between a landlord and a tenant, where the landlord grants the tenant the right to occupy and use a commercial building or space located in Wake County, North Carolina, in exchange for rent payments. This lease agreement outlines the terms and conditions that both parties must adhere to throughout the lease term. The Wake North Carolina Commercial Building or Space Lease may vary depending on the specific requirements and nature of the commercial space. Here are a few types of commercial leases commonly found in Wake North Carolina: 1. Full-Service Lease: This type of lease includes both base rent and additional costs such as property taxes, insurance, utilities, and common area maintenance expenses. The tenant pays a fixed rent amount, and the landlord covers the remaining expenses. 2. Gross Lease: In this type of lease, the tenant pays a fixed monthly rent amount, and the landlord is responsible for all other expenses, including property taxes, insurance, utilities, and maintenance costs. 3. Triple Net Lease (NNN): A triple net lease requires the tenant to pay base rent, property taxes, insurance, and maintenance expenses. The tenant has direct responsibility for managing and covering these costs, in addition to the fixed rent amount. 4. Modified Gross Lease: This lease is a combination of a gross lease and a triple net lease. The tenant pays a fixed rent amount, and the landlord covers certain expenses, such as property taxes and insurance, while the tenant assumes responsibility for utilities and maintenance costs. 5. Percentage Lease: Particularly common in retail or commercial spaces, a percentage lease requires the tenant to pay a base rent along with a percentage of their gross sales. The rent amount fluctuates based on the tenant's performance. It is essential for both landlords and tenants to understand the specifics of the lease agreement, such as lease duration, rent escalation clauses, renewal options, permitted use, zoning regulations, property improvements, and any additional terms negotiated between the parties. Seeking legal advice before signing a Wake North Carolina Commercial Building or Space Lease is crucial to ensure compliance and protect the interests of all involved parties.