There are several types of Leases that you can use for your commercial property tenants. These are briefly explained below:
Gross Lease: A gross lease provides one monthly rate for the space being provided. All taxes, insurance, utilities, and operating expenses are included in the gross monthly rent paid by your tenant.
Triple Net Lease: A Triple Net lease includes a price for the base rent plus an additional price for Operating and CAM Expenses. The Operating Expenses include additional charges for utilities, property taxes, insurance, and maintenance expenses.
Combination Lease: A Combination lease provides some of the features of a Gross lease and a Triple Net lease. Many Combination leases stipulate that the tenant pay base rent based on the square feet being leased plus pay their utilities and operating expenses direct. These leases are typically designed on an individual basis to suit the requirements of the property owner and the tenant.
MMS Properties can assist you in chosing the correct type of lease for your property. We also have the expertise required to design a professional lease for your property and your tenants. All of our leases have been reviewed and approved by our attorneys and meet all current legal requirements for both commerical and residential properties.