This Delaware Commercial Lease Agreement is for business entities of all types to lease commercial buildings and property. This is a legally binding contract that may be enforced for many years, so it’s important for landlords and tenants to consult with their legal counsel before entering into a commercial lease agreement. Here is an explanation of each of the expense options included in this agreement. Each option determines a different cost for the business tenant and it’s traditionally up to the landlord to decide which option to offer.
Modified Gross – In addition to the rent, the Tenant shall be responsible for the specific additional expenses that are agreed upon and itemized in the lease.
Triple Net (NNN) – In addition to the rent, the Tenant agrees to pay for their share of the operating expenses of the entire building (as well as the taxes and insurance). This is typically calculated by determining the Tenant’s percentage of the total building area square footage.
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