Alabama Commercial Lease Agreement
An Alabama commercial lease agreement (also called a “business lease”) is an agreement in which a landlord will agree to rent an industrial, retail, or office space to a business owner in exchange for monthly payment. Listed below are the three ways in which a commercial lease agreement can be set up.
- Triple Net – This is easily the best deal for the landlord because it requires the tenant to pay a monthly amount plus pay any maintenance for the facility.
- Gross – Here, the tenant pays a simple monthly amount to the landlord with no additional payments.
- Modified Gross – This payment type is in between Triple Net and Gross as it requires that the tenant pay a monthly fee, and also take care of some of the utility and maintenance costs for the property.