Alabama Commercial Lease Agreement
A Commercial Lease Agreement (also called a “Business Lease”) is an agreement in which the landlord agrees to let the owner of a retail, industrial, or office space for an agreed upon monthly rate. There are three different ways to setup a commercial lease agreement, which are:
- Triple Net, which is easily the best deal for the landlord, because it requires the tenant to pay a monthly amount plus pay any maintenance for the facility.
- Gross, in which the tenant pays a simple monthly amount to the landlord.
- Modified Gross, this payment is in between Triple Net and Gross, because it requires the tenant to pay a monthly fee, and also take care of some of the utility and maintenance costs for the property.