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Questions to Ask When Viewing a Commercial Property What type of commercial lease is being offered? What is the minimum lease term? What amenities are included? What insurance coverage is required? How much parking is allotted to the renter? Is there room for expansion? Can you make changes to the office space layout?
When negotiating a commercial real estate lease for office space, you may be asked by a landlord to agree to a good guy guarantee. This good guy guarantee is a special type of personal guarantee that provides protection to landlords in the event a tenant goes into default or is otherwise unable to continue.
In Nebraska, a tenant is not required to provide notice for fixed end date leases, the lease expires on the last day of the lease. Nebraska tenants have to provide written notice for the following lease terms: Notice to Terminate a Week-to-Week Lease. Seven days prior to the termination date specified in the notice.
A commercial lease is a contract made between a business tenant and a landlord. This commercial lease contract grants you the right to use the property for commercial or business purposes. Money is paid to the landlord for the use of the property.
Here are some of the most important items to cover in your lease or rental agreement. Names of all tenants. Limits on occupancy. Term of the tenancy. Rent. Deposits and fees. Repairs and maintenance. Entry to rental property. Restrictions on tenant illegal activity.
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The amount of monthly rent is one of the most important issues when it comes to a commercial lease. While rent may seem fairly straightforward, there is a good deal of negotiating room available, even if the rent itself is already established.
Types of Commercial Leases Property expenses include real estate taxes, property insurance, and common area maintenance. The first type of commercial lease is a gross lease, in which the landlord covers all property expenses and the tenant pays a monthly cost for rent of the space.
6 Things Every Commercial Lease Letter of Intent Should Include A Statement Declaring Your Interest in Leasing the Space. A Description of Your Company. An Outline of On-Site Employees, Equipment, and Machinery. Your Business Hours. An Overview of Your Current Space. Contact Details.
A use clause limits how youll use the rented space. The limitations can be as broad as what business youll conduct there, as narrow as what specific services or products youll offer, or as nebulous as the quality level of your operation.
Updated July 11, 2022. A commercial lease addendum makes a change to the terms of a pre-existing lease agreement. Upon the addendum being signed by both parties, the modification may be any request by the landlord or tenant.

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