Parties entering into a commercial lease must understand the basic commercial lease terms in order to fulfill their rights, duties and obligations. Common commercial lease terms include the following: assignment (manner in which lease is transferred), assignee (person or entity receiving the assignment), assignor (person or entity assigning) CAM charges (common area maintenance charges), capital improvements (physical improvements to the property that last for the life of the property, such as an elevator, roof, etc.), double net lease (tenant pays property taxes and insurance) , estoppel certificate (tenant signs a certificate verifying the existence of the lease, the rent and commencement and expiration terms) fixtures (attached to the property and considered part of the real property), gross lease (tenant pays a fixed monthly rental amount), ground lease (owner retains ownership rights to the land; tenant has rights to develop the land and erect a building, which can be leased or sold separate from the land), leasehold (estate or interest tenant has per lease terms), lease term (commencement and expiration dates) lessee (tenant), lessor (landlord/owner), letter of intent (informal non-binding agreement of a party's intentions), option (right to purchase or lease during a specific period), personal property (moveable/a chattel, anything that is not real property), premises (property location), quadruple net lease (tenant pays the property taxes, insurance, CAM charges and utilities,), real property (land and anything affixed, attached or growing on the land), rent (compensation paid by the tenant to landlord for leasing premises) subletting (leasing of space from one tenant to another tenant) security deposit (compensation to landlord in case tenant damages premises), tenant improvements (improvements made by tenant), triple net lease (tenant pays taxes, insurance and CAM charges), zoning ordinance (legal use of property). You can expect to find most of these commercial lease terms in commercial leases.