In this video our Elmhurst commercial real estate attorneys discuss types of commercial leases and tips for negotiating that lease. First there is a commercial net lease that includes utilities and property taxes on top of a base rent, while on the other hand there is a double net lease that has insurance on the tenants side in addition to those things. Finally, there is a triple net lease that has the tenant paying for all of the cost of the building except for structural repairs on top of their base rent, and then there is a full service gross lease that has the tenant paying for a flat base rent every month and the landlord is then responsible for all of the costs of the building. A full service gross lease is going to have the highest rent out of the four options.
When negotiating the lease it is important to think about the length of the lease, comparable rents, and what type of commercial property it is. Next attorneys come in to make sure clauses are favorable to you. As a tenant, it is important having the right to sublease. Making sure the landlord can not lease competitors in the same building is another right you would want to make sure you have before leasing. Lastly, fair signage approval and fair clause for landlord repairs and improvements are other important aspects to check when signing a commercial real estate lease.
