Fulton Georgia Lease of Commercial Building

• Category: Leases - Contracts
• State: Multi-State
• County: Fulton
• Control #: US-0562BG
• Format: Word; Rich Text

Description

This form is a lease of commercial building. Fulton Georgia Lease of Commercial Building is a legal agreement between the landlord and tenant for the rental of a commercial building located in Fulton County, Georgia. It encompasses various types of leases, each catering to specific needs and preferences of businesses seeking commercial space in Fulton. 1. Gross Lease: A gross lease agreement sets a fixed rent amount that includes most or all operating expenses, such as property taxes, insurance, and maintenance costs. The tenant pays the agreed-upon rental amount, and the landlord bears the responsibility for covering additional expenses. 2. Net Lease: Net leases, on the other hand, require the tenant to pay a base rent plus additional expenses, such as property taxes, insurance, and maintenance costs. These additional costs can be categorized into three types: a) Single Net Lease (N): The tenant pays base rent and a portion of property taxes. b) Double Net Lease (IN): The tenant pays base rent, property taxes, and insurance premiums. c) Triple Net Lease (NNN): The tenant pays base rent, property taxes, insurance premiums, and maintenance expenses. 3. Percentage Lease: This type of lease requires the tenant to pay a fixed base rent plus a percentage of their sales or revenue. It is commonly used in retail spaces, where landlords aim to share in the tenant's success by tying rental payments to their business income. 4. Modified Gross Lease: A modified gross lease strikes a balance between gross and net leases. Here, the tenant pays a fixed rent amount, which covers operating expenses except a few specified costs. The landlord and tenant negotiate who is responsible for items such as property taxes, insurance, and maintenance. 5. Ground Lease: In a ground lease, the tenant only leases the land on which a commercial building can be constructed. This type of lease is commonly used for long-term projects, allowing businesses to develop the property without purchasing it outright. Moreover, Fulton Georgia Lease of Commercial Building usually includes essential provisions such as lease duration, rent escalation clauses, maintenance responsibilities, permitted uses, sublease permissions, security deposit, insurance requirements, and any special terms or conditions agreed upon by both parties. It is crucial for potential tenants and landlords to carefully review and negotiate the terms of the lease agreement to ensure a mutually beneficial and lawful arrangement. Seeking legal counsel experienced in commercial leasing is recommended to protect the interests of all parties involved.

Fulton Georgia Lease of Commercial Building is a legal agreement between the landlord and tenant for the rental of a commercial building located in Fulton County, Georgia. It encompasses various types of leases, each catering to specific needs and preferences of businesses seeking commercial space in Fulton. 1. Gross Lease: A gross lease agreement sets a fixed rent amount that includes most or all operating expenses, such as property taxes, insurance, and maintenance costs. The tenant pays the agreed-upon rental amount, and the landlord bears the responsibility for covering additional expenses. 2. Net Lease: Net leases, on the other hand, require the tenant to pay a base rent plus additional expenses, such as property taxes, insurance, and maintenance costs. These additional costs can be categorized into three types: a) Single Net Lease (N): The tenant pays base rent and a portion of property taxes. b) Double Net Lease (IN): The tenant pays base rent, property taxes, and insurance premiums. c) Triple Net Lease (NNN): The tenant pays base rent, property taxes, insurance premiums, and maintenance expenses. 3. Percentage Lease: This type of lease requires the tenant to pay a fixed base rent plus a percentage of their sales or revenue. It is commonly used in retail spaces, where landlords aim to share in the tenant's success by tying rental payments to their business income. 4. Modified Gross Lease: A modified gross lease strikes a balance between gross and net leases. Here, the tenant pays a fixed rent amount, which covers operating expenses except a few specified costs. The landlord and tenant negotiate who is responsible for items such as property taxes, insurance, and maintenance. 5. Ground Lease: In a ground lease, the tenant only leases the land on which a commercial building can be constructed. This type of lease is commonly used for long-term projects, allowing businesses to develop the property without purchasing it outright. Moreover, Fulton Georgia Lease of Commercial Building usually includes essential provisions such as lease duration, rent escalation clauses, maintenance responsibilities, permitted uses, sublease permissions, security deposit, insurance requirements, and any special terms or conditions agreed upon by both parties. It is crucial for potential tenants and landlords to carefully review and negotiate the terms of the lease agreement to ensure a mutually beneficial and lawful arrangement. Seeking legal counsel experienced in commercial leasing is recommended to protect the interests of all parties involved.