Iowa Commercial Lease Agreement
The Iowa Commercial Lease Agreement constitutes a foundation for a contract concerning the rental of commercial properties. In Iowa, commercial properties encompass business-oriented establishments such as retail outlets, hotels, apartments, offices, or warehouses. Typically, there are three primary types of commercial leases: Triple Net (NNN), Gross, and Modified Gross. The provided lease form can accommodate any of the three lease types.
Commercial Lease Types, Explained
- Triple Net (NNN) Lease: Tenants pay base rent and a share of property expenses like taxes, insurance, and maintenance.
- Gross Lease: Tenants pay a fixed rent, while landlords cover property expenses.
- Modified Gross Lease: Both parties negotiate and agree on which property expenses each will be responsible for.