Commercial Leasing FAQ
What is the difference between a short-term commercial lease and a long-term commercial lease?
Short-term commercial leases (STCL) may last no more than three years, and are not subject to public bid. Long-term commercial leases (LTCL) may have a lease term of more than three years, but not more than 55 years. All long-term commercial leases are subject to public bid.
How is the short-term commercial lease (STCL) rent determined?
Upon application for a STCL and before the end of a STCL term, the lease is appraised for market value and market rent using acceptable and standard appraisal methods.
Am I allowed to know who the present lessee is?
Yes, you are allowed to know who is currently leasing the land. Email the Land Office at email@example.com for lessee information.
Will a short-term commercial lease be prorated if my lease starts after January?
Yes, we prorate yearly rental rates February through December. The Land Office makes an effort to have annual rents invoiced for payment January 1 of each year.
Can I pay my entire contract rent in one payment?
Yes, you may pay your rent annually or pay the entire contract rent, which would be your annual rent for three years.
Can I sublease my short-term commercial lease?
The lease may be sublet or assigned with prior written consent from the Land Office.
Am I allowed to construct structures on my lease property?
You must first receive written permission from the Land Office before any structures are constructed. Please contact the Real Estate Management Specialist that serves your area to discuss construction of structures on leased property. Additionally, permission to construct may be granted by submitting an Improvement Request Form.
When is my annual rent due?
You will receive an invoice approximately the last week in November. The rent will be due by January 1st; interest will start accruing January 15th retroactive to January 1st.
Can my leased land be sold by the Land Office?
Yes, the Land Office reserves the right to exchange, sell or commercially develop all or part of the leased property at any time.