AIR COMMERCIAL REAL ESTATE ASSOCIATION STANDARD INDUSTRIAL/COMMERCIAL SINGLE-TENANT LEASE -- NET (DO NOT USE THIS FORM FOR MULTI-TENANT BUILDINGS) 1. Basic Provisions ("Basic Provisions").
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Understanding the difference between the single tenant and out leaves and the single tenant gross lease is critical especially if you're using these leases on a regular basis there's a lot of confusion and misunderstanding between the differences in police and actually the leases are almost identical and only different in a few spots also there's a common misconception that under the gross lease the tenant is only responsible for the payment of rent and that's not correct let's take a look at the differences first of all the differences occur in paragraphs number 7 8 and 10 in paragraph 7 of the net lease the tenant is responsible for all building maintenance on the gross lease the landlord is responsible for building maintenance however the tenants responsible for reimbursing the landlord for those maintenance costs also under the gross lease the landlord is responsible for the roof in paragraph number 8 which is property insurance on the net lease the tenant is responsible for the payment of the entire insurance premium on the gross lease the tenant is only responsible for the increase to that premium over the base year of first year of release in paragraph number 10 property tax like property insurance the tenant on the net lease is responsible for the payment of all property tax on the gross lease the tenant is only responsible for the payment of increases to the property tax over the base year other than that the leases are essentially the same as you can see they share much more in common than not don't hesitate to contact the AR overthink questions you might have about the user content of their forms or to ask about educational seminars that may be available to you also the AI are highly recommends to all parties in a transaction to seek out legal and other professional advice when transacting business using one of their forms if you liked what you heard today and found it to be helpful I encourage you to purchase the AI our forums user's manual it's filled with hundreds of similar tips and ordering information will follow at the end of the video thank you you