ASSIGNMENT / SUBLEASING - Understanding Commercial Leases - Part 10

Friday, November 23

This is part 10 of a multi-part series on Understanding Commercial LeasesASSIGNMENT / SUBLEASINGPURPOSE - Protects Landlord and/or Tenant by specifying mechanism for Tenant  assigning lease or subleasing to a new Tenant OR Landlord assigning lease to new Landlord.LANDLORD ASSIGNMENTS - Lease typi...

TENANT IMPROVEMENTS - Understanding Commercial Leases - Part 9

Friday, November 23

This is part 9 of a multi-part series on Understanding Commercial LeasesTENANT IMPROVEMENTSPURPOSE - It is a payment mechanism for improvements the Tenant requires to the PremisesSOME COMMON MECHANISMSTenant takes premises in AS-IS condition (no improvements by Landlord required)Landlord makes al...

SECURITY DEPOSITS - Understanding Commercial Leases - Part 8

Friday, November 23

This is Part 8 of a multi-part series on Understanding Commercial LeasesSECURITY DEPOSITSPURPOSE - It serves as a mechanism for landlord to minimize likelihood they won’t get paid for rent, or for damage caused to the premises or landlord during term of leaseAMOUNT - It usually is based upon mont...

ADDITIONAL RENTS - Understanding Commercial Leases - Part 7

Thursday, November 22

This is Part 7 of a multi-part series on Understanding Commercial Leases ADDITIONAL RENTSPURPOSE - It serves as a mechanism for landlord’s to get reimbursed for building expenses, such as property taxes, insurance, maintenance and sometimes management (TIMM). Tenant usually pays monthly estimates...

RENTS - Understanding Commercial Leases - Part 6

Thursday, November 22

This is Part 6 of a multi-part series on Understanding Commercial LeasesRENTSTYPESBase RentAdditional Rent (Reimbursements for taxes, insurance, maintenance, etc.)Percentage Rent“Holding Over” RentRATESBasis for calculating rateSquare Footage RateRate for the spaceRental IncreasesPercentage Rent ...

USE CLAUSES - Understanding Commercial Leases - Part 5

Thursday, November 22

This is Part 5 of a multi-part series on Understanding Commercial LeasesUSE CLAUSESPURPOSE - A use clause outlines what “is” and “is not” an allowable use of the premisesTENANT MIX - Having tenants with various uses that, taken together, provide a good “mix” of services that will increase the lik...