Commercial Leases in NC Mountains
If you’re a landlord who is looking to invest in commercial properties in the NC Mountains, then you will be familiar with the need for commercial leases. A commercial lease is a legally binding contract made between a landlord and a business tenant. In the remainder of this post, we will cover just exactly what is a commercial lease, what makes it different from a residential lease, and why you should partner with a commercial real estate broker to get the job done.
What is a Commercial Lease?
A commercial lease is a legally binding contract made between a landlord and a business tenant. The lease gives a tenant the right to use certain property for a business or commercial activity for a period of time in exchange for money paid to the landlord. Additionally, the lease outlines the rights and responsibilities of both the landlord and tenant during the lease term. Wright Properties has over 40 years experience with writing and executing commercial leases in the High Country.
Difference Between a Commercial Lease and a Residential Lease
A commercial lease is used by a tenant to rent space for a business while a residential lease is used by a tenant to rent a home or space to personally reside in. Commercial leases are typically viewed as contracts between knowledgeable business people. Consequently, less governmental protection is available for tenants of commercial property than tenants of residential property. Because the parties are knowledgeable business people, the underlying belief is that they should be able to negotiate the terms of the lease to their liking. Consistent with this idea, the parties of a commercial lease typically have greater bargaining power and more negotiating ability than the parties of a residential lease.
Commercial Lease Experts: Wright Properties
Wright Properties has been working with commercial property owners in Boone, Blowing Rock, Banner Elk, Ashe County and the surrounding areas for over 40 years. We have a proven track record of helping these owners draft and execute commercial leases with their tenants. To learn more about our commercial lease services in Western North Carolina, contact our team today!