A Nevada Commercial Lease Agreement is a unique kind of lease used by a for-profit entity to rent a property for commercial purposes, typically either business or industry. An organization can only use this type of lease to rent for commercial purposes, a non-profit or charitable organization could not use this kind of lease to rent a property.
A Commercial Lease is freed from the constraint to contain simple, clear language and can often contain large number of unique clauses pertaining to acceptable use of the property, and may even affect or be affected by the leases for the units surrounding it. It can also hold the tenant financially responsible for costs other than the rent, such as in a Triple Net (NNN) lease, where the tenant is responsible for payng the utilities, repair costs and property taxes. It is therefore even more critical that the lease be read carefully, possibly with lawyers present.
A Commercial Lease will be governed by both a state’s rental and lease laws, and its Commercial Code. Nevada’s lease laws can be found in Nevada Statutes Chapters 40 and 113 and the Commercial Code in Chapter 104.