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How to Edit Commercial Lease Application

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during your search for commercial space im sure that youve come across a lot of commercial real estate jargon but you dont need to worry you actually dont have to know everything this video will cover the basics of commercial leases including common lease structures important lease causes and the most common delivery conditions of commercial leases by the end of it you wont know everything about commercial leases but you should know enough to be dangerous a first lease structures commercial leases can be structured in a variety of ways depending on the type of property type of business and number of tenants here are a few of the most common lease structures triple net or net net net a triple net lease is one of the most common lease structures youll find it requires the tenant to pay base rent along with the three nets which are property taxes building insurance and common area maintenance with triple net leases the tenant incurs all expenses related to the property but the land

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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What is the penalty for breaking a lease in Ontario?

One year is most typical. If you break the lease, youre breaking a contract, and the landlord can hold you responsible for paying the rent until the end of your lease term. For example, if you pay $1,800 a month and want to break your lease for the last four months, you could end up on the hook for $7,200.

How do I amend a lease in Ontario?

Both parties must agree to the proposed amendments. A lease is a legally binding agreement between a tenant and landlord, therefore it cannot be altered without both parties consent. Typically, a landlord is more likely than a tenant to propose an amendment to the lease.

Can a landlord break a commercial lease in Ontario?

The applicable notice period is normally set out in the lease itself. Notice periods may be different for monetary and non-monetary defaults. Where a lease does not specify the notice period, the Commercial Tenancies Act allows a landlord to terminate a lease if rent has not been paid for more than 15 days.

What bdocHubes a commercial lease?

If a landlord bdocHubes the conditions of a commercial lease, it is usually because they are either: not maintaining the property adequately, have failed to insure the building, or have blocked the tenants access to the property.

Can a landlord end a commercial lease early?

If a Landlord wishes to end a fixed-term commercial lease early due to a Tenant bdocHubing the lease, then they may be able to do so if there is a forfeiture clause in the lease. The procedure for forfeiture will depend on how the Tenant has bdocHubed the lease.

How do I remove a tenant from a commercial lease?

The easiest way to start the process of evicting a commercial tenant is to file for a Possession Claim from the County Court. The Government has an online Court and Tribunal Finder and youll need to find the court which is closest to the commercial property itself.

How can a landlord terminate a lease in Ontario?

You must provide the landlord with your notice no later than 30 days after the landlord gives you the standard lease. In either case, you must provide the landlord with a written notice to terminate the tenancy at least 60 days before the last day of a rental period.

How do I get out of a commercial lease in Alberta?

Generally, if a commercial tenant wants to vacate the premises earlier than the lease allows, the tenant will have to get written agreement from the landlord or the tenant may be responsible to pay rent for the entire duration of the lease.

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