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‍Triple net (NNN) leases are agreements in which the tenant is responsible for a portion of the property’s operating expenses, in addition to the base rent. These expenses typically include taxes, insurance, and common area maintenance (costs associated with maintaining shared areas like hallways, parking lots, and landscaping).

The monthly rent on a NNN lease is the sum of the base rent and the estimated monthly NNN charges. These charges are usually outlined in the lease agreement and may be adjusted annually based on actual expenses.

In commercial real estate, the load factor refers to the difference between the total rentable square footage of a building and the usable square footage a tenant actually occupies. Load factor essentially highlights the portion of space a tenant pays rent for that they cannot directly use.

A commercial lease is a complex legal document that outlines your rights and responsibilities as a tenant. Having a lawyer review the lease ensures you understand all the terms, including:
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- Length of the lease: How long you’re obligated to rent the space.
- Renewal options: The ability to extend the lease after the initial term.
- Rent escalations: How much the rent can increase over time.
- Maintenance responsibilities: Who is responsible for repairs and upkeep.
- Termination clauses: Under what circumstances either party can break the lease.

In some commercial leases, a personal guarantee requires the owner(s) of the business to be personally liable for the rent if the business fails to meet its obligations. A lawyer can advise you on the implications of a personal guarantee clause.

Landlord financial diligence is the process of verifying the financial health of the property owner. This might involve reviewing documents such as:

- Tax returns: Shows the landlord’s ability to maintain the property.
- Business financials: Provides insight into the landlord’s overall financial stability.
- Personal net worth statement (for individual landlords): Helps assess the landlord’s ability to cover any potential issues.

A change of use clause in a lease specifies how the tenant can use the rented space. It outlines any limitations or prior approval needed if you want to use the space for a different purpose than what's originally agreed upon in the lease.