Question: What Do Commercial Landlords Look For?

The lease registration cost is usually borne by the tenant.

It’s paid to the land registry and usually costs around $140.

Now, the other costs in the clause above are usually paid for by the landlord.

That is, the landlord pays their own legal costs and you as the tenant, pay your own legal costs..

Can a commercial lease be month to month?

Most commercial retail leases extend for 1, 3, 5 + 10-year periods. With 5 + 10-year terms being the most common durations. Much more commonly, however, upon expiration, the lease converts to a month-to-month agreement. Under a month-to-month lease agreement, the terms of the original lease remain in force.

What is the most common commercial lease?

Triple Net LeaseA Triple Net Lease (NNN Lease) is the most common type of lease in commercial buildings. In a NNN lease, the rent does not include operating expenses. Operating expenses include utilities, maintenance, property taxes, insurance and property management.

What should I look for when leasing a commercial property?

10 Things to Look for in a Residential or Commercial LeaseThe parties and the property. Your lease will identify the landlord, the tenant, and the property, or “premises.” … The length, or “term,” of the lease. … Lease extensions or “holdovers” … The rent. … Security deposit. … Utilities. … Pets. … Other tenant rights and responsibilities.More items…•

How long does a commercial lease take to complete?

In fact, the commercial lease process can extend from a matter of months to a year or more, depending on the length of time it takes to accomplish the many fundamental steps involved in the process.

What happens when a commercial lease comes to an end?

Commercial tenants usually remain in a property when a lease has expired because they are still negotiating the terms of a new, renewed lease with the landlord or they have an informal agreement to stay on.

Who is responsible for repairs in a commercial lease?

reduce risk for both the landlord and tenant. be responsible for “structural repairs”. that require maintenance will fall to the tenant.

What rights do commercial tenants have?

Under the commercial landlord-tenant law, you have the right to run your business for that length of time unless you breach the contract. The landlord cannot evict you from the property without just cause.

Can I live in a commercial property if I own it?

So yes, you can absolutely live in a commercial property. … Commercial properties can include residential uses, such as apartment buildings and hotels, which are commercial properties. What you mean to ask is: “Can I live on a property not permitted for residential use?” The answer is no, you can’t do that legally.

Can a landlord enter a property without the tenant present?

When you rent a property from a landlord it becomes your home. They should only enter the property without you being present, if you have given permission for them to do so, or in a genuine emergency.

How do you get approved for a commercial lease?

Your landlord may ask for one or more of the following:Bank references. … Current credit reports/scores from all three reporting bureaus. … Previous/current landlord references (for an existing business moving to a new location) … Personal and corporate financial statement(s) … A copy of your business plan.More items…

What can you negotiate on a commercial lease?

5 Tips for Negotiating a Commercial LeaseEvaluate the Length of the Lease. … Research Comparable Rents. … Look for Hidden Costs. … Ask for Favorable Clauses. … Check the Termination Clause Closely.

Is a commercial landlord entitled to a key?

No, there is nothing under California law which requires a commercial landlord to have a key and/or passcode to the security system. However, such circumstances and requirements might be set forth in the commercial lease agreement itself.

How do I get rid of commercial tenants?

Review the lease and determine whether the tenant has given you grounds for eviction. … Notify the tenant of the problem in writing. … File an eviction case in the appropriate county court as soon as the cure period expires. … Request a writ of possession from the court, if the judge finds in your favor.

What is a typical commercial rent increase?

Actual Rent Clauses Can Be Fixed or Variable The increase is usually based on square footage, so your rent could go from $20 per square foot to $22 per square foot. Variable increases are called indexed increases. Typically, these increases are tied to a third-party indicator like the Consumer Price Index.