DESCRIPTION OF THE PREMISES - Understanding Commercial Leases - Part 3

This is Part 3 of a Multi-Part series on Understanding Commercial Leases

DESCRIPTION OF THE PREMISES

ACCURACY - Special care should be taken to make sure the premises is accurately described

SITE PLAN - it is sometimes useful to add a drawing of the property that shows the portion of the property being leased

OTHER ITEMS - Special parking areas, space targeted for expansion, common areas should be shown on site plan

LANDLORD'S INTEREST - Making sure size and location of premises and special items are accurately described, although sometimes ambiguity can be useful to the Landlord

TENANT'S INTEREST - Making sure size and location of premises and special items are accurately described, although sometimes ambiguity can be useful to the Tenant