Commercial Property Lease Agreement Arizona

The landlord only takes care of repairs if defects are concealed at the time of signing the lease. Step 6 – “Rent and expenses” is one of the most important parts of this document. The expected amount of the lease should be tendered and then enter numerically in parentheses. The next domain will also consist of three choices. This can be considered as “gross leasing”, “modified gross leasing” and “triple net leasing (NNN)”. Check the corresponding rental type above in the appropriate selection. The landlord and tenant must initialize the marked control box. In the case of a modified gross financial lease, the costs related to the contract must be detailed for both the lessor and the lessee. In the case of triple net leasing (NNN), the insurance conditions must be recorded. A commercial lease in Arizona also includes sections for different conditions, indications, and the effect of commitment. This last point is crucial because you both sign the contract. Note that you must sign the document in the presence of the notary. Sometimes moving to a better location improves the business by bringing in more customers.

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