New Mexico Commercial Lease Agreement – PDF – Word
The New Mexico commercial lease agreement is a document that is used by landlords of commercial real estate to describe the rights and responsibilities of all parties involved in the renting of retail, office, or industrial space. It should be noted that there are three (3) types of commercial real estate lease agreements (described below).
- Triple Net (NNN) – An agreement wherein the tenant pays the monthly rent as well as a portion of the expenses related to the property (taxes, insurance, CAMs).
- Gross – An agreement wherein the tenant pays the monthly rent and the landlord covers all other expenses.
- Modified Gross – An agreement wherein the tenant pays the monthly rent as well as all other expenses related to the property.
Once the type of agreement has been negotiated, and all other provisions described within the document have been discussed and agreed upon, both parties can sign the document binding the other to the terms and conditions therein.
New Mexico Business Entity Search – A useful tool for landlords to investigate the business tenants prior to signing the lease agreement.