Leasing an office is an exciting time, whether it’s for an established business looking to grow or a startup seeking a space to get the ball rolling. Regardless of the size of your business, it can be easy to fall into a lease that isn’t the right fit for your company. We’re going to walk you through the various kinds of commercial leases so you can feel comfortable and knowledgeable when looking for your next office.
Single Net Lease: After negotiating with the landlord, the client pays rent as well as a portion of the property tax. The client will pay utilities and any other services while the landlord takes care of the building expenses.
Double Net Lease: Insurance costs and taxes are the responsibility of the leasing client, and the client pays utilities separately.
Triple Net Lease: One of the most common types of leases, this requires the client to pay for property taxes, insurance, and common area maintenance in addition to the base rent. Tenants typically pay janitorial and interior expenses as well as their own utilities, and the landlord will pay to keep the structural elements of the property in good condition.
Absolute Triple Net Lease: Under this agreement, the tenant has complete responsibility for all building costs. While you may be wondering why the tenant doesn’t just purchase the space, there’s one major benefit to this lease. If something catastrophic were to occur, the tenant is not responsible.
Full Serviced Lease: Commonly referred to as a “gross lease,” the maintenance of areas outside a client’s leased premises (e.g., lobby, stairwells, hallways, restrooms) will be paid for by the landlord. Although the base rent will be a bit more, the lessee is able to plan for the future, knowing that there will not be unexpected additional expenses. When these added expenses are factored in, the gross lease is often the most cost-effective for the leasing client. This lease is used when nearly everything is included in the lease, such as property tax, maintenance, repairs, and utilities.
Percentage Lease: A base amount of rent is paid by the tenant, as well as a percentage of revenue the business earns. Percentage leases are typically found in shopping malls and multi-tenant spaces. This lease may appeal to companies that have steady, predictable sales and can foresee the monthly percentage totals.
Lease an Office at TradeCenter 128
Our offices at TradeCenter 128 are centrally located near Route 128/Interstate 95 and come with plenty of amenities. With free parking and green benefits, this is one of our most sought-after office buildings. On the first floor we have wide-open floor plans, quick access to the parking garage, and retail suite opportunities. Give us a call at 781.932.7029 or fill out our contact form.