When it comes to finding the ideal commercial lease in Hamilton, there are many factors that you should consider. In fact, there are different types of commercial leases that are available, which is why it is crucial that you understand your options as a business owner.
Here at NZ Commercial Property Brokers Ltd, we provide professional commercial property leasing services to help you find the perfect property for your business.
Let’s explore your options for commercial leasing below.
Net Lease
The most common type of commercial lease is a net lease – this type of lease means that you pay all or some of the costs (including taxes, utilities, maintenance) on top of your rent. This lease is typically split into three levels:
- Single net lease – you pay the property’s taxes while the landlord pays other costs; not common
- Double net lease/NN – you pay property taxes and insurance premiums, landlord pays other costs; most popular
- Triple net lease/NNN – you pay all costs associated with the property including property taxes, insurance, maintenance; reduced rental price and are often long-term contracts
Gross Lease
Also known as a full-service lease, this type of lease means that tenants pay the base rent and utilities, while the landlord pays for building expenses (which includes maintenance costs, property insurance, and property tax). This type of lease is common for short-term spaces and buildings with multiple tenants, such as office buildings or retail complexes.
A modified gross lease falls between a gross lease and a triple net lease. In essence, it is designed to balance the needs of both the tenant (you) and the landlord. Lease terms are usually modified according to your personal needs, but you are responsible for any cost increases during the lease period.
Always read the terms and conditions of your lease contract carefully to understand what expenses you are responsible for.
Are you interested in a commercial lease in Hamilton? If so, then NZ Commercial Property Brokers Ltd has got you covered with our range of commercial property leases throughout the Hamilton area. To learn more about our services, or if you have any questions about what we do, please don’t hesitate to get in touch with us today.