Landlord
Commercial Lease
Ohio
Can the rent be increased during the lease term?
I am an entrepreneur who is looking to rent a commercial space for my business. I recently found a space that fits my needs and the landlord is offering a lease agreement. I am wondering if the rent can be increased during the lease term, as this could have a significant impact on my business. I understand that the lease agreement may contain provisions that allow for rent increases, but I would like to confirm this before signing the agreement.
Answers from 1 Lawyer
Answer
Landlord
Ohio
Jeffrey K.
ContractsCounsel verified
The lease agreement should specifically provide when and in what amount any rent increases would occur. Usually on a lease with a five year term, rent would increase yearly. If you have a build out credit, you may have free rent for a term if you pay for the build out. If it is a net lease, meaning you pay rent and, either taxes, insurance and/or common area maintenance, you would have a base rent plus the other fees that could increase during the initial lease term usually yearly, but it could be more than one time a year if the costs of these items increase. The rent would also likely increase yearly. If the lease is a gross lease, you will have one monthly rental payment that would increase (most likely) yearly.
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The only way to answer this question is to have an attorney read the lease.
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