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Updated over 6 years ago on . Most recent reply
Commercial tenant lease
Hi all
I have to renew a lease with a tenant for a commercial space in a small building in NJ soon. I was wondering if others are charging "additional rent" ie having the tenant pay a portion of taxes and insurance beyond his rent payment. If so, is there a percentage others are using? Also, what time length ie how many years are others writing the lease for? Also, how much are others increasing the rent yearly?
Also in terms of collecting rent, any good suggestions aside from tenant mailing check? I am having tenant pay rent to the LLC. I deposit it in that account, but sometimes there's issues with getting lost in the mail etc, so I am looking to streamline that process while still being able to get the payment in the LLC account. Is it a problem to get the rent in my name and use Zelle and then use online banking to move the money into that account? Not sure if that breaches the LLC veil.
Thanks for any input!!