1. Initial Consultation
Bring your lease and all relevant documentation to my office to discuss:
- Your understanding of the terms of the lease
- Any concerns based on your understanding of the lease
- Anything you believe missing from the lease
- "Deal breakers" that must addressed in the lease before you will sign
- The desired scope of my efforts on your behalf
2. Reconciliation of the Letter of Intent (LOI) with the Lease
Identify, locate, and analyze the LOI terms in the lease
- Breakdown each term negotiated in the LOI
- Indicate where in the lease each term is addressed
- Analyze the language of lease to determine how accurately the LOI terms are represented
- Add, clarify or correct the language of the lease to accurately represent the terms of the LOI
3. Schedule of Important Dates and Amounts Payable
The Schedule will include a timeline including relevant dates and amounts such as:
- Date of execution
- Effective date
- Deposit due Date
- Amount of deposit
- Date of occupancy
- Date of lease commencement
- Date of lease termination
- Date of first rent payment
- Amount of initial rent payment
- Dates of any chages in rental payment amount
- Amount of any rental changes
- Date and amount of penalties or late fees
- Amount or means of calculating any holdover late fees
- Date notice of renewal or intent to terminate is due
- Date recommended for tenant to begin gathering data to assist in negotiating a renewal or negotiating a new lease at a different location (this date must be early enough for the tenant to gather reliable market data or engage a their own Broker to create leverage in the negotiating a renewal or a new lease)
4. Glossary of Important Terms Frequently Appearing in Commercial Leases
5. Comprehensive Review of the Entire Lease
- Provide comments to and explanation of particular clauses identified by the client, client's broker or recognized by legal counsel as relevant to the interests of the tenant, the terms of the LOI, or the operation of the tenant's business.
- Prepare a red-line version of the lease which includes changes to the lease language to protect tenants interests, clarification of terms and provisions, and additional necessary language and clauses.
- Review the red-line version with the client
6. Submit Red-line Lease with Deletions, Changes, and Comments to Landlord
7. Review and Respond to any Counteroffers or Modifications
- Several rounds of offers and counteroffers may be necessary before the tenant and landlord agree to a final version of the lease.
8. Consultation with Client Regarding the Final Version of the Lease Prior to Execution