Signing a new lease for your business is something that the majority of businesses have to do at some point or another.  Most leases seem pretty basic and many business owners assume that it’s similar to a standard personal lease/rent agreement.

The truth is that there are actually different types of commercial leases.  Depending upon how your is structured, your lease could either be helping or hurting your business’ bottom line.

Leases
The process of leasing out a property to a corporation is same as in a personal lease. The agreement must be signed and registered in court, and once the advance rent and security deposit are paid by the company, the designated occupant takes possession of the property.  That’s where the similarities end.  Here are some major differences that Marvel Law can help with:

• Net-net, or double net lease: tenant is responsible for only utilities, property taxes and insurance premiums for the building.  The landlord pays maintenance and repairs.
• Single net lease, net lease: tenant only pays utilities and property tax.  The landlord pays maintenance, repairs, and insurance.
• Triple net lease: tenant is responsible for all costs of the building.  The landlord is generally responsible for structural repairs.
• Modified net lease: tenant and landlord split structure repairs and operating expenses.

Marvel Law would be happy to go over your current lease to see what you’re actually responsible for as a tenant or to see how it can be changed to better suit your business needs.  Simply fill out the form on this page and we can set up a FREE 15 minute consultation.