There are many different types of binding contracts that we need to deal with on a daily basis. when it comes to real estate and large projects like this you will be required to sign and adhere to a lease. When it comes to leases you need to understand that there are many types of commercial leases you can get involved in. Here are a few that you need to understand.
A triple net lease is a type of commercial real estate lease that requires the tenant to pay for all expenses associated with running and managing the property. These types of leases usually have high annual costs which makes them less favorable among many landlords and tenants, but it can be used as a way to shift capital expenditures from the owner to the lessee.
There are several types of tenant leases. When it comes to these you really need to know what is required of you and the payments that will be made over a period of time. Most tenants feel like they have security when it comes to their lease, but there are times when things change and that means a major change in your payment schedule as well as a renegotiation of the lease terms.
Before you get into anything with a commercial aspect make sure that you know everything that is going on. You want to look at the lease with a fine-tooth comb as well as ask questions, have it looked over by a third party and make sure you write notes to these explanations and discussions. The last thing you want to do is find yourself in a legal battle because you assumed something or were told by someone. Make sure it is in writing and you are good to go.Read more →