Perhaps the most typical type of commercial leasing is a net lease. In a net lease, the tenant is liable for both the base rent payment and any additional property-related costs. With shared office spaces on the rise, the workplace adapts to the individual.
The parties to this commercial lease agreement (the “Lease”) are the (“Landlord”)____________________ and the (“Tenant.”)____________________________.
The owner of the land and improvements is usually referred to, identified, and officially known as “the building.”
Therefore, in exchange for the pledges made by both parties herein as well as other favorable and useful consideration, it is understood:
1. Term
For an “Initial Term” starting on _____ and ending on ______, the Landlord hereby leases the Leased Premises to the Tenant, and the Tenant hereby leases the same from the Landlord.
2. Rental
During the initial term, the tenant shall pay the landlord a rental amount of $ ______ each year, payable in equal monthly payments. During the period of the lease, each installment payment is to be made in advance to the landlord at the following address: ____________ or at any other location specified in a written notification from the landlord or the tenant.
3. Utilities
Unless otherwise specifically agreed in writing by the landlord, the tenant is responsible for paying all fees associated with the water, sewer, gas, electricity, telephone, and other services and utilities utilized by the tenant on the leased premises throughout the length of this Lease.
4. Parking
During the term of this Lease, Tenant shall have non-exclusive use of the non-reserved common parking areas, driveways, and footways in common with the Landlord, other tenants of the Building, and their guests and invitees, subject to the Landlord’s rules and regulations for their use.
5. Security remittance
The Landlord shall hold the Security Deposit without the right to charge interest in order to ensure that the Tenant complies with all covenants and responsibilities set forth in this Lease.
6. Notice
To be considered properly given or served, any notice required or permitted by this Lease must be sent via certified US mail with the return receipt requested and addressed as follows:
Landlord:
In the event of a tenant:
both the landlord and the tenant have the right to occasionally change the location where notice is to be delivered under this clause by notifying the other party in writing.