Michigan Commercial Lease Agreement – PDF Template
The Michigan commercial lease agreement can be used by landlords seeking to lease a commercial property (retail, office, or industrial space) to a business for a long or fixed period of time. The landlord is highly recommended to demand a credit application for the business to ensure that if it does not make a profit, they 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