There could be a multitude of companies in Minnesota and across the nation who hold various types of property. In some cases, business owners might feel that the best avenue of profit for certain assets could involve leasing the property to another party. Those weighing the possibility of leasing property might benefit from seeking insight on the types of commercial leases available and on how to choose the best fit for the situation.
Commercial leases come in numerous forms, and each option may carry its own set of possible pros and cons. One common example might pertain to a full-services lease, which involves an arrangement in which a lessee is responsible for paying an agreed upon amount in rent, while expenses pertaining to insurance and maintenances may be the responsibility of the property owner. Another option involves a modified gross lease. With this type of arrangement, the tenant may also be responsible for paying a portion of operational costs in addition to rent payments.
Another potential option could involve a percentage lease, which refers to an agreement in which the tenant pays a property owner a base rent payment and a percentage of revenue. Experts state that triple, double and single net leases may also be common among similar arrangements. The financial responsibilities involved with these options may vary but typically fall somewhere between full-service and modified gross lease rates.
Addressing the options
When preparing to lease a commercial property, business owners who wish to seek insight in evaluating their available options could choose to speak with an attorney for advice in making informed choices. An attorney can help a client address every essential aspect of commercial leasing and provide insight on choosing a path that best fits his or her business interests. Such guidance may play a vital role in helping a person better prepare to safeguard his or her endeavors during similar business transactions.