Ohio Commercial Lease Agreement Template – Adobe PDF
The Ohio commercial lease agreement is between a property owner and a business or person electing to rent industrial, office, or retail related space. A lease agreement is usually longer than one (1) year (usually a three (3) to five (5) year initial term) due to the amount of money it usually takes for the landlord to create the custom amount of square footage that the tenant desires.
There are three (3) ways a commercial lease may be created:
- Triple Net (NNN) – An agreement where the tenant pays a rental amount plus all the expenses including the real estate taxes and insurance on the property.
- Modified Gross – The tenant pays a monthly amount plus a portion of the expenses and real estate taxes and insurance on the property.
- Gross – The tenant only pays a monthly amount to the landlord. All expenses and fees related to the property are paid by the landlord.
Requirement for Tenant:
- Comprehensive public liability insurance having limits of not less than $500,000 for bodily injury or death to one person, $500,000 for bodily injuries or death arising out of one occurrence, and $200,000 for property damage.