North Carolina Commercial Lease Agreement
A property owner in the state of North Carolina may lease their property to a office, retail, or industrial business tenant with the commercial lease agreement. To complete our agreement, both the landlord and business owner (tenant) has to complete or agree on a total of 28 sections, including both the landlord and tenant’s signatures such as;
- Sublease and Assignment
- Building Rules
- Security Deposit
After all 28 sections are complete and the lease is signed and dated, the contract will be in effect. However, a large part of the negations is agreeing who pays what in regards to property maintenance, utilities, water, electricity, heating, taxes, among others.
For North Carolina, there are three different ways regarding these payments;
Gross – Type that requires the landlord to pay for all of the costs related to the property.
Modified Gross – Type splits the various property costs between the landlord and tenant.
Triple Net (NNN) – Type that requires the tenant to pay for all of the costs associated with the property, while also managing to pay the monthly rent.
- Laws – Chapter 25 > Article 2A