This IA Commercial Lease Agreement is for any property zoned for business use. The core terms and conditions can be negotiated and the landlord has the option to charge the tenant additional expenses such as common area maintenance (CAM’s), real estate taxes, and insurance depending on which of the following rent calculations is chosen:
Modified Gross – The tenant is responsible for specific additional expenses (aside from the base rent amount) that are added in the lease.
Triple Net (NNN) – The tenant must pay their base rent and for their share of the operating expenses of the entire building which usually includes utilities, real estate taxes, insurance, charges, or other expenses in connection with the ownership and operation of the premises. The expenses are typically calculated by determining the tenant’s percentage of the total building area square footage.
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