Michigan Commercial Lease Agreement – PDF Template
Use this free agreement (Adobe PDF) if you are a landlord seeking to lease your commercial property (retail, office, or industrial space) to a business for a long or fixed period of time. The landlord is highly recommended to accept a credit application if the business is smaller to ensure that if it does not make a profit, that the person themselves have enough assets and funds to cover the rental payments.
There are typically two (2) types of commercial leases;
Gross Lease – The tenant pays the landlord one monthly payment per month and the landlord covers any and all utilities and expenses on the premises including: electricity, water, HVAC, heat, taxes, insurance, and common area maintenance.
Triple Net (NNN) – The tenant pays the landlord a monthly payment along with the duty of paying all utilities and expenses as listed above.
Once the agreement has been initialized and signed it becomes legal and binding.
- Read the laws on required provisions when drafting a commercial lease agreement in Michigan