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A commercial property lease is different from a residential lease. Residential leases are for tenants looking for property to rent to live in, while commercial leases are intended to be used for business purposes. [2] Generally, commercial leases have less protections in place for the tenant as compared to residential leases. [2]
Generally, corporate real estate professionals approach the real estate market from the owner-occupant perspective, both leased or the buy-side, primarily demand perspective, similar to corporate purchasing or procurement. As such, they seek to contain costs, and may benefit from economic environments that are described by most as "weak".
A lease option (more formally Lease With the Option to Purchase) is a type of contract used in both residential and commercial real estate.In a lease-option, a property owner and tenant agree that, at the end of a specified rental period for a given property, the renter has the option of purchasing the property.
Commercial property includes office buildings, medical centers, hotels, malls, retail stores, multifamily housing buildings, farm land, warehouses, and garages. In many U.S. states, residential property containing more than a certain number of units qualifies as commercial property for borrowing and tax purposes.
A triple net lease (triple-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three "nets") on the property in addition to any normal fees that are expected under the agreement (rent, utilities, etc.).
For management companies, this includes the management company’s corporate managers; for condominium associations, cooperative and homeowners associations, this would include association Board ...