Landlord Tenant Commercial Leases

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Commonly Asked Questions about Landlord Tenant Commercial Leases

What kind of commercial tenant is most likely to have a percentage lease?

Landlords in shopping centers and some strip malls may demand a share of a retail tenants profits in addition to the monthly rent. If you have a retail business and are headed for the mall, you may be asked to pay whats known as percentage rent.

What is the best commercial tenants to have?

The Best Types of Tenants for Commercial Properties Automotive centers, gas stations, and even restaurants are often selected because they are closest to their customers. So if you have a flat tire, for example, youre going to the nearest mechanic rather than the cheapest or a local favorite.

What is the most used commercial lease?

A triple net lease, sometimes known as an NNN lease, is the most common type of commercial lease. A triple net lease is a lease whose monthly rent fee does not include operating expenses. Typical operating expenses include insurance, utilities, property taxes and maintenance costs.

What is the best commercial lease for a landlord?

Gross leases tend to benefit the tenant, whereas net leases are more landlord friendly.

What is the most common type of commercial lease?

Triple-Net Lease Triple-net leases are one of the most common types of commercial leases. Triple-net leases are beneficial for tenants as they allow them to pay their fair share of building expenses, and depending on individual usage, some tenants can save on costs compared to a gross lease.

What is the best commercial lease for a tenant?

Gross leases tend to benefit the tenant, whereas net leases are more landlord friendly. In a gross lease, the tenant has more control over how much is spent on such expenses as janitorial services and utilities.

How long does it take to evict a commercial tenant in New York?

In NYC, evicting a commercial tenant can take a few weeks to several months, depending on the process. Generally, however, the expectation is that commercial eviction proceedings will be faster when compared to trying to evict residential tenants.