A New Jersey commercial lease agreement is a legal contract that allows a landowner to lease a property to a person or organization for commercial use be it retail, office, or industrial spaces. A commercial lease agreement entails rent amount, lease duration, security deposit, provisions about a lease renewal, and penalties for any breach of contract. The lease agreement becomes a binding contract after being signed by both parties that can be enforced in court. Since commercial landlords prefer longer lease terms, the duration of a commercial lease is often between three and five years.
Types of New Jersey Commercial Lease
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Full-Service Lease
When you sign a full-service lease, also known as a gross lease, you agree to be financially liable for the basic rent. This is because the tenant's rent pays for all operational property costs. Taxes on real estate, utilities, maintenance, and other costs are examples but not the only ones that might be incurred.
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Net Lease
A commercial real estate lease with significant flexibility is the net lease. Additionally, the tenant is responsible for paying fixed running costs including real estate taxes, insurance, and upkeep of shared spaces (net leases come in triple, double, and single forms). The amount of debt the landlord transfers to the tenant depends on the specific form of net lease.
Key Terms Related to New Jersey Commercial Lease
- Security Deposit: The sum of money a tenant pays at the start of a rental agreement that may subsequently be used to cover any damage the tenant does to the home.
- Base Rent: The minimum rent owed under a lease in the context of a commercial lease. The real rental rate the landlord must get after deducting the value of incentives from the basic rental rate is known as the reasonable rent.
Each state in the USA approaches commercial leasing rules differently, and as a result, several laws are in effect. You may leverage Contracts Counsel's experience to get the top New York commercial leasing attorneys. Find the attorney you want and need by visiting ContractsCounsel today. Compare multiple free proposals from vetted lawyers and save 60% less than traditional law firms - start your job proposal here.
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Meet some of our New Jersey Commercial Lease Lawyers
Angela Y.
NJ and NY corporate contract lawyer and founder of a firm specializing in helping entrepreneurs. With a background in law firms, technology, and world class corporate departments, I've handled contracts and negotiations for everything from commercial leases and one-off sales agreements, to multi-million dollar asset sales. I love taking a customer-focused and business-minded approach to helping my clients achieve their goals. Other information: learning to surf, lover of travel, and one-time marathoner (NYC 2018) yulawlegal.com
Michael J.
Combining extensive experience in litigation and as general counsel for a real estate and private equity company, I provide ongoing guidance and support to clients on a variety of transactional matters, including business formation, partnership agreements, corporate agreements, commercial and residential leasing, and employment issues.
Anand A.
Anand is an entrepreneur and attorney with a wide-ranging background. In his legal capacity, Anand has represented parties in (i) commercial finance, (ii) corporate, and (iii) real estate matters throughout the country, including New Jersey, Pennsylvania, Delaware, Arizona, and Georgia. He is well-versed in business formation and management, reviewing and negotiating contracts, advising clients on financing strategy, and various other arenas in which individuals and businesses commonly find themselves. As an entrepreneur, Anand is involved in the hospitality industry and commercial real estate. His approach to the legal practice is to treat clients fairly and provide the highest quality representation possible. Anand received his law degree from Rutgers University School of Law in 2013 and his Bachelor of Business Administration from Pace University, Lubin School of Business in 2007.
October 12, 2021
Grant P.
Founder and owner of Grant Phillips Law.. Practicing and licensed in NY, NJ & Fl with focus on small businesses across the country that are stuck in predatory commercial loans. The firm specializes in representing business owners with Merchant Cash Advances or Factoring Arrangments they can no longer afford. The firms clients include restaurants, truckers, contractors, for profit schools, doctors and corner supermarkets to name a few. GRANT PHILLIPS LAW, PLLC. is at the cutting edge of bringing affordable and expert legal representation on behalf of Merchants stuck with predatory loans or other financial instruments that drain the companies revenues. Grant Phillips Law will defend small businesses with Merchant Cash Advances they can no longer afford. Whether you have been sued, a UCC lien filed against your receivables or your bank account is levied or frozen, we have your back. See more at www.grantphillipslaw.com
October 31, 2021
Melanie C.
Melanie Cunningham specializes in helping entrepreneurs remain creative and expansive by establishing the foundation of their business and protecting and maximizing their intellectual property. It’s her belief that entrepreneurs and micro and small business owners play a critical role in our communities, which propelled Melanie to return to private practice after more than a decade working for global financial institutions. Melanie’s practice is dedicated to delivering excellent legal support and protection to this vital, but an often underserved, community. Melanie credits her business training and the skills developed as a senior compliance officer with enabling her to help small business owners have a legally compliant business, while proactively advising clients during the growth process. She’s helped diverse entrepreneurs do business in a way that focuses more on collaboration than competition. Melanie has counseled small business owners in determining what is protection worthy (helping them obtain trademarks and copyrights) and making contact on their behalf in the case of infringement.
April 20, 2022
John M.
Seasoned professional with experience in wide variety of contract negotiation and review.
May 6, 2022
Brittany S.
I am licensed in New York and New Jersey. I graduated with my J.D. from Touro University Law Center, Summa Cum Laude, in 2021. In 2018, I graduated from SUNY Farmingdale with a B.S. in Sport Management and a minor in Business Management. I have experience in real estate law and insurance defense, including employment law. Please note, I do not carry malpractice insurance.
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Browse Lawyers NowReal Estate
Commercial Lease
Ohio
How is the lease renewed at the end of the lease term?
I am a small business owner who recently signed a three-year commercial lease for my business. I am looking to understand the process of renewing the lease at the end of the three-year term. I am interested in learning more about the process, the timeline, and what I need to do to ensure that I can continue to operate my business at this location.
Paul S.
If your lease has a renewal option, then you renew by following that process, which involves giving notice during the specified time frame. If you did not include a renewal option in your lease, then you'll need to contact the landlord 6-12 months before the end of the term, and inform the landlord that you want to renew the lease. Then you'll have to negotiate the terms with the landlord.
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.
Jeffrey K.
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.
Real Estate
Commercial Lease
Florida
What's the parking situation in a commercial lease?
I am currently in the process of signing a commercial lease for a retail store and I need to know the parking situation that is included in the lease. I have read through the lease and I'm not sure if the parking is included or if I have to arrange it myself. I need to know if I will be able to provide adequate parking for my customers and employees.
Diane D.
The only way to answer this question is to have an attorney read the lease.
Contracts
Commercial Lease
New York
What's the entire agreement clause in a commercial lease?
I am a small business owner who recently signed a commercial lease for my business premises. I am concerned about the “entire agreement” clause in the lease, as I am not sure what it covers and what the implications are for me and my business. I am looking for clarification on the clause and any potential risks associated with it.
Matthew S.
This is a contractual provision which aims to prevent the party relying on it from being liable for any statements or representations (including pre-contractual representations) except as expressly set out in the agreement. It generally precludes the introduction of parol evidence or evidences of other agreements that are not in writing.
Commercial Real Estate
Commercial Lease
California
What is a commercial lease agreement and how does it work?
I am a business owner interested in renting a commercial space for my business. I am trying to understand the details of a commercial lease agreement and how it works so I can make an informed decision about whether or not to sign a lease. I am looking for information about the terms, conditions, and other relevant details that could affect my business.
MICHAEL B.
A commercial lease agreement sets out the parameters of the space to be leased, including a description of the premises, an allocation of responsibilities for janitorial services, electrical services, tenant improvements, insurance requirements, payment of rent and payment of common area expenses, parking for employees and visitors, telephone and telecommunication services and many other issues.
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