Tag: lease

How To Promptly Close A Lease

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As people grow up, they are more than likely not going to stay in the same house their whole life. When an individual rents a house or apartment, they typically do not stay their whole life. Despite the fact that renting is a temporary aspect, some people want to get out of their lease earlier than expected, whether it is the tenant or landlord. Chang Legal is here to help you understand how you can get out of a lease earlier than expected.

Fixed Term Lease (1 Year)

Fixed term leases are generally one year long and both sides must agree to stay true to the lease the entire term. However, there are some exceptions to this lease such as a tenant violating the regulations of the lease, which gives the landlord the right to end the term early. On the other hand, if a landlord fails to meet the terms in the lease, such as not being able to provide livable conditions, then a tenant may end the lease legally.

Monthly Lease (30 Days)

A monthly rental agreement is a bit more straightforward than a fixed term lease, a tenant or landlord has the ability to be in a notice of leaving 30 days in advance, which means a tenant would still have to pay for the extra month they are spending in the rental.

Contact Your Real Estate Agent

Dealing with ending a residential lease can draw up some complications, this is why it is essential to speak with your real estate agent to see what can be done in your situation. Consulting with Chang Legal will benefit you and your situation, since we have been practicing real estate law for over 15 years.

For further information or to learn more about how we can support you, contact Chang Legal today. support you, contact Chang Legal today.

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Commercial Lease Rates

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It can be difficult to understand how commercial lease rates work when you are looking to lease a commercial property. Since every situation is unique to every other, it may be confusing when you are comparing multiple properties to lease. It is essential to understand the factors that are associated with this, such as the current market, the size of the property, and what the preferences of the landlord are. Chang Legal is here to help you recieve a better understanding of commercial lease rates and what to look for when you may be considering leasing a commercial property.

Rates Per Month Or Year

When you lease a commercial property, there are many similarities as you would lease a residential property, such as fixed monthly or yearly rates. Monthly rates may work as simple as $2.00 for every 6,000 SF, which would be around 6,000 dollars per month. However, many landlord use a fixed yearly rate when leasing a property, such as $25 for every 6,000 SF, which would be around 100,000 dollars annually.

Gross Lease

In a gross lease, most of everything is all included within the fixed rate of the lease. This means the renter will not need to pay any of the maintenance, insurance, taxes, or any other type of fee associated with the property.

Triple Net Lease

In a triple net lease (NNN), the renter will usually have to pay a lower based rate for the property, as well as pay for all the fees that may come with the property. This includes maintenance, insurance, taxes, and any other type of fee that may come with the property.

When you are looking for a commercial space to rent, it is essential to know all of these things and knowing what you are responsible for once you sign the contract. It is crucial to contact a real estate attorney, such as us at Chang Legal, to ensure you know all the details associated with the lease. To learn more and how we can support you through your real estate questions or concerns, contact Chang Legal today.