An Oregon Commercial Lease Agreement is a special kind of lease used when the property is intended for business or industrial purposes. Nonprofit and charitable organizations cannot use this type of lease, as they are not commercial entities.
Commercial Leases are often among the most complicated types of leases, often with provisions for how the property can be used, what types of business can occupy the surrounding properties and even what days the business must remain open. In order to avoid issues a Commercial Lease should be read exceptionally carefully, often with a lawyer present.
In addition in a Commercial Lease the tenant can often be responsible for more than just rent. A common form of a commercial lease is a Triple Net (NNN) lease, where the tenant is responsible for the utilities, upkeep, insurance and taxes inherent in the property, albeit with reduced rent in exchange. In a Gross lease, a tenant is responsible for the rent and the rent alone. In rare cases, the tenant and landlord may share responsibility for the insurance, upkeep and taxes. This is called a Modified Gross lease.