One of the primary considerations of any lease is the length of the Lease Term. Sometimes flexibility requires a very short lease, and sometimes a lease needs to be longer to amortize a significant tenant improvement investment. So, how long of a lease term should you sign up for? There are quite a few factors to...Read More
A good friend of mine, Ed Harris at CTS, recently wrote an article about occurrences that signal the need to review, or audit, your lease. I have edited his writing to shrink his well thought out arguments down to a blog format focused on this huge area of cost containment for tenants. The Red Flags are: 1. Significant...Read More
While my inner punk rocker smiles at the term, the Damage and Destruction clause in any office lease is no laughing matter. Although seldom used, it can be the most serious provision in a lease if a major destructive event (Fire, Flood, Earthquake, etc.) affects the occupancy of a building. While many tenants have never had...Read More
Tenants “renew” leases all the time, but almost always outside the legal bounds of the renewal right in their lease. Technically, most tenants negotiate a “lease extension,” as opposed to “renewing” the lease. As a matter of fact, I have been in the business for almost a quarter century (Did I just say that? Ouch!),...Read More
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