Delaware Commercial Lease Agreement
Designed for property owners looking to lease their properties out to hopeful retail, office, or industrial business owners. This Delaware commercial lease agreement will help a commercial landlord pave the way to a successful lease that protects the property owner’s financial interests. Like any rental contract, it is recommended that the landlord ask the applying business owner to complete a rental application to give the landlord an overview of the business owners credit, criminal, rental, and employment history, which can be essential when deciding if the applying business owner is going to be a good tenant.
- Commercial Lease Laws – Title 25 > Chapter 61
There are typically three (3) types of commercial lease agreements, all with different terms and conditions, they are:
- Gross – The tenant’s best scenario, as the landlord will cover all expenses related to the property, requiring the tenant only pay monthly rent.
- Modified Gross – A mix between Gross and Triple Net (NNN), as the tenant and landlord will agree on who pays what costs related to the property.
- Triple Net (NNN) – The preferred situation for the landlord, as the tenant is required to financially cover every single cost related to the property, including water, electricity, taxes, parking, regular maintenance, etc., and also pay a monthly rent bill.