Alaska Commercial Lease Agreement
An Alaska Commercial Lease Agreement, also called a “Business Lease”, is an agreement that allows a retail, corporation, or industrial business to rent out a property for a monthly cost. In general, there are three parts:
1. Gross – This is the best possible option for the tenant, because the tenant only pays a monthly rate to the landlord, and all other expenses, including repairs/maintenance and bills.
2. Modified Gross – This form of Commercial Lease Agreement is in-between full repair coverage and the Gross type of lease agreement, where the landlord only pays certain aspects of the property, such as routine maintenance, electricity, water, and the taxes for the property.
3. Triple Net (NNN) – The third and final form of Commercial Lease Agreement is the best-case scenario for the landlord, because the tenant covers all expenses.