A New Jersey Commercial Lease Agreement is a unique kind of lease, used for when a commercial entity wishes to rent a property, typically for either business or industrial reasons. Note that only a commercial organization can rent a property using this type of lease. A political or charitable organization would have to use a more specified kind of lease.
As Commercial Leases involve large organizations instead of individuals, and are no longer required to contain simple, easy to read language, they should be read even more carefully than a Residential Lease, and lawyers will usually need to be consulted. In addition, they typically run much longer than a Residential Lease and can contain many more unique clauses. The most common type of Commercial Lease is a Triple Net (NNN) lease, where the tenant is financially responsible for the property taxes, repair costs and utilities, in addition to the rent.
As it covers both renting property and commercial entities, a Commercial Lease will be affected by both a state’s rental laws and its Commercial Code. New Jersey’s rental laws can be found in New Jersey State Code, Title 46-8, while its Commercial Code can be found in Title 12-A.