New Hampshire Commercial Leases: Key Clauses & NNN Structures

Commercial lease drafting in New Hampshire offers immense freedom. There is no "Truth in Renting Act" for commercial properties, no habitability requirement, and virtually no statutory limitations on what clauses a landlord can include.

The written lease is the absolute, overriding authority governing the landlord-tenant relationship.

Disclaimer: This guide provides general legal information for educational purposes only and does not constitute legal advice. Always consult a licensed commercial real estate attorney. Information last verified: March 2026.

Lease Structures: Gross vs. Net

Gross Leases

The tenant pays a single, all-inclusive rental figure. The landlord covers property taxes, insurance, and maintenance from that sum. This is simpler for the tenant but riskier for the landlord if operating costs spike.

Net Leases (NNN)

The dominant structure in New Hampshire commercial real estate. The tenant pays a "Base Rent" plus their pro-rata share of operating expenses:

1. Property Taxes: 100% of municipal property taxes allocated proportionately.
2. Insurance: The landlord's commercial building insurance premiums.
3. CAM (Common Area Maintenance): Snow removal, landscaping, parking lot maintenance, security, and janitorial services for shared areas.

In multi-tenant properties, each tenant pays their share based on their exact square footage percentage of the total lettable area.

Critical Clauses

1. "As-Is" Clause

The lease must state the tenant accepts the premises in its current condition, with all faults. Without this, a tenant may argue the landlord implicitly guaranteed the HVAC or roof's condition.

2. "Make Good" (Reinstatement) Obligations

Tenants frequently install custom fit-outs. A robust clause must compel the tenant to strip out all installations and return the premises to a "bare shell" or "base building condition" at their own expense at the end of the lease.

3. Subleasing and Assignment

The lease must require the landlord's prior written consent before any sublease or assignment. Landlords should retain the right to review the incoming tenant's financials and demand additional personal guarantees.

4. Operating Expense Exclusions

A well-negotiated NNN lease will include a list of costs the tenant does not have to reimburse, such as capital improvements, the landlord's own corporate overhead, or costs related to other tenants' spaces.

5. Default and Remedies

This critical section defines exactly what constitutes a default, the cure periods, and the landlord's available remedies (including lease termination and acceleration of rent).

Mastering NNN Reconciliations

Because actual operating costs (especially New Hampshire winter snow removal) fluctuate wildly year to year, landlords bill tenants estimated monthly amounts and perform a year-end reconciliation. Landager automatically aggregates all vendor invoices and generates mathematically perfect NNN Year-End Reconciliation statements tailored to each tenant's pro-rata share.

Back to New Hampshire Commercial Landlord-Tenant Laws Overview.