Commercial Leases
- Lease Type
: You'll have to select the appropriate lease for your apartment. There 4 types of leases for Commercial properties: Gross, Net, Double Net and Triple Net.
- The Gross Lease is when all of the property's expenses are paid by the owner.
- The Net and Double Net share some similarities since when signing one of those lease means the tenant is partially responsible of certain expenses.
- The Triple Net lease indicates that all expenses are paid by the tenant.
- Basic Rent
: Input the current rent paid by the active tenant excluding all expenses. You can either enter a monthtly amount or an amount per year per ft².
- Increase Rate
: You can specify the future increase(s) of future lease(s). This can be determined by either a percentage every year, a fixed amount per month or year, per ft² per year or enter directly the rent cost for the next lease
- Expense
: Enter the price of the expense for this lease. You can enter an amount per month or an amount by ft² per year. If the lease is a gross lease checkmark the box Detailed in Expenses.
- Expense Increase
: Enter the percentage for the expenses increase. In some cases, the rent will not increase, but the expenses will.
- Common Space
: Enter the area (ft²) of the communal area accessible by all the tenants of the building. This data is valuable seeing as it will impact the expense cost based on the overall size of the property.
- Save
: Click on Save to save your new information. If you click on the arrow, the data will be automatically saved and you will be moved to the next window
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Mots clés::
commercial
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lease
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create