Accounting / July 19, 2018 / Khloe Santiago
Tenants who lease commercial properties sign various types of leases structured to put more responsibility on the tenant and provide greater up-front profit for the landlord. For example, some commercial leases require the tenant to pay rent plus the landlord's operational costs, while others require tenants to pay rent plus property taxes and insurance. The four common types of commercial real estate leases include: single-net leases, in which the tenant is responsible for paying property taxes; double-net leases, which make a tenant responsible for property taxes and insurance; triple-net leases, where tenants must pay property taxes, insurance and maintenance; and gross leases, in which the tenant pays rent while the landlord is responsible for other costs.
As a businessperson, the commercial lease you sign for your business is one of the most important documents you'll ever create. Take the time to learn the clauses you should expect to see in any commercial lease and what those clauses mean.
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