Standard industrial commercial multi-tenant lease

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Standard industrial commercial multi-tenant lease

A standard industrial/commercial multi-tenant lease is normally a gross lease where in landlord leases out the premises to more than one tenant. In other words the building is leased out to more than one tenant and these tenants share the premises and the resources contained therein.

Normally this lease is gross lease wherein the landlord collects the rent from the tenants and out of this amount pays up the taxes and maintenance etc. A standard industrial/commercial multi-tenant lease agreement should generally consist of the clauses such as the parties involved in renting out the premise, the percentage of the premise they are taking on lease, the exact specifications of the are under their control so as to avoid any conflict, the rights of tenants and the landlord, the monthly lease amount, the yearly increase in the rent, the responsibility of taxes and building maintenance and the remedies available to the aggrieved parties in case of any conflict.

Standard industrialcommercial multi-tenant lease

Standard industrialcommercial multi-tenant lease

 

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