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Definition. Agreement between a landlord and a business outlining terms and conditions of property rental. A commercial lease is specific to renters using the property for business or other commercial purposes versus residential use. commercial lease is specific to renters using the property for business or other commercial purposes versus residential use.
A net lease is a type of commercial real estate lease in which the lessee or tenant pays for his space, but he also pays for all or some part of certain âusual costs.â These are typically expenses associated with operating, maintaining and using the property â costs which the landlord would ordinarily pay.