Office Lease Contract (Multi-Tenant Base Year template Gross Lease) (Landlord-friendly Long Form) (New York)

The "Office Lease Contract (Multi-Tenant Base Year template Gross Lease) (Landlord-friendly Long Form) (New York)" is a legal template designed specifically for commercial office space landlords in New York. This comprehensive and detailed contract covers the terms and conditions for leasing an office space to multiple tenants within a building.

The template follows a base year gross lease structure, meaning that the tenants will pay a fixed monthly rental fee that includes all operating expenses, such as utilities, insurance, taxes, and maintenance costs. The base year for these expenses is established as a starting point, and any subsequent increase in operating expenses will be proportionately shared amongst the tenants.

As indicated by the "Landlord-friendly Long Form" description, this template is primarily beneficial for landlords, as it includes provisions and clauses that protect their interests and ensure compliance with New York state laws and regulations. It emphasizes the landlord's rights, obligations, and remedies in case of a breach of contract by the tenants.

The "Multi-Tenant" aspect highlights that the lease agreement pertains to multiple tenants leasing office spaces within the same building. It outlines the various rights, responsibilities, and restrictions imposed on the tenants, addressing aspects such as use and occupancy, alteration and modification of premises, and maintenance responsibilities.

Given the New York specification, this template also incorporates specific clauses related to local laws or regulations that govern office leases in that jurisdiction. It may cover subjects like security deposits, dispute resolution procedures, mandatory compliance with accessibility requirements, and compliance with state or city codes.

Overall, this legal template provides a robust framework for landlords in New York to lease office spaces to multiple tenants, ensuring comprehensive and landlord-friendly terms and conditions while complying with applicable laws.