Commercial Building or Space Lease - North Dakota 2025

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  1. Click ‘Get Form’ to open the Commercial Building or Space Lease - North Dakota in the editor.
  2. Begin by entering the date of the agreement at the top of the form, followed by the names of both LESSOR and LESSEE.
  3. In the 'Premises and Term' section, specify the start and end dates of the lease term, along with a detailed description of the leased premises.
  4. Fill in the rent amount in the 'Rent' section, ensuring to include any prorated amounts for the first month.
  5. Complete sections regarding utilities, late charges, and security deposits as applicable. Be sure to check any boxes that apply to your specific lease terms.
  6. Review all terms carefully, especially those related to maintenance responsibilities and default conditions.
  7. Once all fields are filled out accurately, utilize our platform's signing feature to electronically sign and send your completed lease agreement.

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The landlord would pay all building-related expenses. Net lease. The tenant agrees to pay base rent plus expenses, which may include the cost of utilities for the leased space and a proportional share of property taxes, insurance, and utilities and maintenance fees for common areas.
A business lease can be much more affordable up front, providing your business with more liquidity. Buying commercial property can potentially require you to pay six times more in up-front costs than you would if you leased the same property.
The landlord of a commercial space for rent may require the following: Security deposit (e.g., one months rent or more) Financial statements. Profit and loss statements. Balance sheet. Business bank statements. Previous landlord information. Credit reports. Business tax returns.
Commercial tenants should be able to spend 5% to 10% of their gross sales per foot on rent. Your gross sales divided by the locations square footage will give you sales per square foot. For example, you estimate your business will make $300,000 per year in total sales, and you are looking at a 1,500 square foot space.
Its usually wise not to live in a commercial property unless your lease includes living on premises. You dont want to get evicted from both your home and business. Property owners insure their buildings for specific purposes. Illegally living in a commercial building can invalidate coverage.
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After receiving the applicants business credit score, you should check the company owners credit score. Unlike company credit scores, personal credit scores fall between 300 to 850, with 850 being the best score. Your applicants should have scores of at least 700 for consideration of your rental.
Unlike residential leasing, commercial leasing involves more complex and negotiable terms, such as rent, duration, maintenance, improvements, and subleasing. To qualify for commercial leasing, you need to prepare a strong application that showcases your business plan, financials, and credibility.

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