Those involved with commercial leasing in Florida will want to know more about the types of leases and what they contain. There are several different leases that are available; these can also be modified to suit both parties.
According to the balance small business, the following types of leases are those available to fit the needs of different businesses. Residential leases are much simpler.
The Gross Lease – With the possible exception of telephone and data transmission, the landlord picks up the cost of almost all operating expenses. It might be the right fit for an attorney, accountant or a consultant. Included is the “load factor” where the additional costs pass on to the tenant.
The Triple Net Lease – The tenant pays a significant amount of the operating costs. Those renting older properties do not especially like this type of lease. In this type of lease the tenant pays base rent plus taxes and insurance plus maintenance. On the other hand, a Double Net Lease has the tenant paying just base rent plus taxes and insurance.
The Modified Net Lease – This is across between the Gross Lease and the Triple Net Lease. It often helps to create a structure that is beneficial to both the tenant and the landlord.
The Percentage Lease – In this lease, the tenant pays the base rent plus a percentage on the sales volume that comes in monthly. This type of lease is common in mall outlets which feature retail stores.
Leases can all be negotiated; terms can be hammered out. If there are questions regarding lease agreements, one should consult an attorney who specializes in law regarding commercial real estate. The best lease is of benefit to both sides, the landlord and tenant.
