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The majority of the population of a certain age has entered into a residential lease at some point in life. This process could have gone smoothly with a great landlord and quality property. The experience could have also been a nightmare due to the lease being unreasonable in its requirements. The right fit could lead to years of the landlord and tenant having a rental agreement indefinitely.
For those landlords that own metaproperty complexes, the behavior of the tenants is also important. Nobody wants a low rental rate of units due to a few tenants that do not consider their neighbors when they act.
Commercial lease agreements are entered into by businesses and owners of commercial buildings/spaces. These properties are approved to have certain types of businesses run there. Plenty of these property management companies even handle the upkeep of the property along with handling utility bills, cleaning crews, and general building maintenance. Much like residential properties, the lease needs to be details and below will cover what should be included in both types of leases.
A rental lease agreement needs to include the following to be valid and enforceable:
The lease is going to be the ultimate protection for the landlord in the cases of a damaged apartment or if a tenant repeatedly fails to pay rent. Eviction processes differ immensely by state so this is something to keep in mind as it can take the better part of a year to evict someone from a property in certain locations. Doing the proper research on the rental history of a tenant is imperative as neglecting to do so can result in disaster.
Most small apartments will cost you money but not financially ruin you if you sign a lease that you have to break. This is not the same for commercial property as the amounts that can be charged for these properties can be immense. The importance of understanding what everything means in the lease should also be viewed by a professional for both parties.
Rent calculations fall into two categories which are net and gross. Gross means there is a single fee and the bill for utilities is covered as part of the rent. Net leases boast a lower rental fee but requires different expenses to be covered by the renter. A combination of both usually occurs due to a building covering something like water, electricity, or the internet.
This is a type of gross lease where everything will be covered for a single fee like at an all-inclusive luxury resort. A business not having to worry about expenses like that of a cleaning crew or paying an electric bill allows the business to have more fixed than variable expenses. Below are tips to include in this type of lease:
A renter will love this type of list as hidden charges do not change their overall rental costs for the month.
If the tenant is leasing half of the building in square footage, they will have to cover the taxes on half of the property. The fee includes a rental fee as well. The tenant will pay for utilities in this lease as well. Janitorial services will have to be covered but are optional. There is a double and triple net lease as well. These include the following:
Understanding there are different leases that require no certain documents is important. The penalties for changing or breaking a lease do not have limits as there are fewer protection laws for a tenant in these scenarios. Below are aspects that a commercial lease should include to be considered as secure for both parties as possible:
In today’s world commercial leases are still required for some businesses while others can be completely run remotely due to technology. Do not sign one of these as a tenant without a legal pro looking at it first as you might already have one on staff or retainer. The commercial lease could leave you personally liable depending on the terms in the lease.
Being able to keep horses in stables, fed, exercised, and well-taken care of can be a full-time job in itself. This leasing of space is going to come with quite a few different details associated when compared to a residential or commercial lease. Below are some of the details that need to be stated when leasing a space for a horse:
Renting out real estate or space of any kind can be a stressful time. The security deposit combined with a few months of rent in certain circumstances is nothing short of a nightmare. Find a lease that will protect both the tenant and the landlord. Having a legal professional check these leases over is important. State laws might differ on tenant rights if you own property in multiple states.