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Standard retail/multi-tenant lease - net - AIR Commercial Real Estate ...

Standard retail/multi-tenant lease - net - AIR Commercial Real Estate ... 2025

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The document is a standard retail/multi-tenant lease agreement provided by the AIR Commercial Real Estate Association. It outlines the terms and conditions under which a lessor leases a commercial property to a lessee, including details on rent, duration, maintenance responsibilities, insurance requirements, and provisions for default and remedies. The lease specifies the rights and obligations of both parties regarding the use of the premises, common areas, and compliance with applicable laws. It also includes clauses related to assignment and subletting, damage or destruction of the premises, real property taxes, utilities, and security measures.

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Click ‘Get Form’ to open it in the editor.
Begin by filling out the 'Parties' section, entering the names of the Lessor and Lessee. Ensure all details are accurate to avoid future disputes.
Proceed to the 'Premises' section. Input the specific address and description of the leased property, including any relevant exhibits.
In the 'Term' section, specify the duration of the lease, including start and end dates. Be sure to check for any early possession clauses that may apply.
Fill in financial details under 'Base Rent' and 'Percentage Rent Rate'. Clearly state payment terms and any adjustments that may occur during the lease term.
Review sections regarding maintenance responsibilities, insurance requirements, and compliance with applicable laws. Make sure you understand your obligations as a Lessee.
Once all fields are completed, utilize our platform's signing feature to electronically sign the document. Ensure both parties have access to a copy for their records.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What are examples of multi-tenants?

A good example of multi-tenant architecture is in cloud computing and software-as-a-service applications. Public clouds such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP) provide the same infrastructure for multiple different users simultaneously.

What is the difference between single-tenant and multi-tenant lease?

Multi-tenant properties offer shorter lease terms than single-tenant properties, often lasting between three to seven years. These lower commitment leases allow lessors to acquire higher value tenants, facilitate building upgrades, regularly adjust rent, and sell the property during a prime window of opportunity.

What is multi-tenant retail?

A percentage lease is most often used in retail, and it requires the tenant to pay a fixed rent as well as a percentage of monthly gross sales. Operating expenses are partially or completely the landlords responsibility.

What are the disadvantages of multi-tenancy?

Vulnerability: A multi-tenant environment allows multiple access points for users, which can increase the threat of a security breach. Complexity: Serving multiple clients in one instance of an application/database adds an extra level of complexity to the codebase and database maintenance.

What is a standard commercial lease term?

Investing in commercial real estate has long been viewed as a highly rewarding opportunity, with multi-tenant retail properties emerging as a popular choice among investors. These properties, which house multiple retail tenants within a single building, present a range of unique benefits and potential challenges.

What is a net-net lease in commercial?

A standard commercial lease is about three to five years.

What does multi-tenant mean?

Multitenancy is when several different cloud customers are accessing the same computing resources, such as when several different companies are storing data on the same physical server.

Standard retail/multi-tenant lease - net - AIR Commercial Real Estate ... 2025

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