Office Lease Contract (Multi-Tenant Base Year Modified Gross Lease) (Landlord-friendly Simple) (New York)

The Office Lease Contract (Multi-Tenant Base Year Modified Gross Lease) (Landlord-friendly Simple) (New York) is a legal template specifically designed for leasing office spaces in multi-tenant buildings located in New York. This contract establishes the terms and conditions under which the landlord rents out the office premises to tenants.

The lease agreement follows a base year modified gross lease structure, meaning that the tenant will pay a fixed rent amount plus their share of Operating Expenses (such as utilities, maintenance costs, and property taxes) that exceed a baseline year. This type of lease is commonly used in commercial real estate to provide both the landlord and the tenant with a degree of stability in rent payments.

The legal template, being landlord-friendly, aims to protect the landlord's interests while outlining the essential rights and responsibilities of both parties. It typically covers details such as the term of the lease, rental payment terms, late payment penalties, security deposit requirements, utilities and maintenance responsibilities, rules and regulations, permitted and restricted uses of the space, tenant improvements, and possible remedies for breach of contract.

As it is tailored specifically for office spaces in New York, the template also complies with relevant state laws and regulations governing commercial lease agreements. This ensures that the rights and obligations of both the landlord and the tenant are aligned with the legal framework of the state.

Overall, the Office Lease Contract (Multi-Tenant Base Year Modified Gross Lease) (Landlord-friendly Simple) (New York) provides a comprehensive and carefully constructed legal document for landlords and tenants to establish a clear understanding of their rights and obligations in leasing office spaces in New York.