Real Estate Lawyers in Greater Danbury Deliver Valuable Commercial Leasing Advice
We can help negotiate the best terms for your commercial space
When considering a lease on a commercial property, tenants may not know all the options available. The attorneys at Collins Hannafin, P.C. are active members of the Greater Danbury community. As a result, we understand the issues concerning many areas and properties, adding valuable insight to our legal advice on the best terms for your commercial lease.
Before you sign, learn the types of commercial leases available
Unlike residential leases, commercial real estate leases provide maximum flexibility regarding terms. Commercial tenants and landlords negotiate the allocation of costs and responsibilities associated with the lease. Some commercial lease contract formats allocate these to the benefit of either the tenant or the landlord.
- Gross commercial lease — The landlord covers taxes, insurance and maintenance costs, while the tenant pays a fixed rent. This type of lease benefits tenants seeking to minimize the amount of charges and unpredictable changes related to their property expenses.
- Net lease — The tenant pays for space and part of, or all, the utilities, taxes, insurance and maintenance costs. A double net lease means the tenant pays for taxes and insurance in addition to the rent. A triple net lease, or NNN lease, places the responsibility upon the tenant to cover maintenance, taxes and insurance charges. Tenants whose expenses vary greatly from month to month may find net leases advantageous for keeping a balanced budget.
- Fully serviced lease — This type of lease typically includes the costs associated with janitorial services, trash collection, utilities, taxes, insurance and other property charges in the monthly rent payment. The landlord can allocate these property expenses among multiple tenants, who do not have to concern themselves with managing these various service providers. Landlords of brand-new or recently renovated properties may find fully serviced leases advantageous to manage upkeep of the property.
- Percentage lease — This type of lease provides for monthly payment of a base rent by the tenant that is lower than a fixed rent in a gross lease, plus a percentage of sales or business conducted in a given period, generally above a threshold amount. Percentage leases particularly serve the retail industry, especially newly started ventures.
Do not delay in contacting our attorneys for reliable advice regarding your next commercial lease in Greater Danbury
Whether you have a question regarding an existing lease or would like to negotiate terms for a renewal, Collins Hannafin, P.C. can assist you. For general inquiries or to schedule an appointment, send a message online by clicking here or by calling 203-885-1938. We serve clients throughout Danbury, Ridgeford, New Milford, Bethel, Newtown, New Fairfield and Sherman, CT.