Oklahoma Commercial Lease Agreement

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An Oklahoma Commercial Lease AgreementĀ is an agreement by which a landlord lends property to a commercial entity for for-profit purposes, typically industrial or business. A nonprofit or charitable organization cannot use this type of lease, as it is not a commercial entity.

Unlike in a residential lease, the tenant in a commercial lease can often be responsible for things other than the rent. A common type of lease for a commercial property is a Triple Net (NNN) lease where the tenant is responsible for property taxes, the utilities and the cost of any repairs. Conversely, in a Gross Lease the tenant will be only be responsible for the rent, but the rent will typically be much higher than in a Triple Net lease.

Due to the high amount of local agriculture in Oklahoma, there are often local laws and statutes pertaining to businesses renting property which the tenant and landlord should both be aware of.