Understanding Common Commercial Lease Terms

Nina L. Kaufman, Esq.

Nina L. Kaufman, Esq.

Nina L. Kaufman, Esq., owner of Ask The Business Lawyer, is an award-winning business attorney, speaker, and Entrepreneur Magazine online contributor. She saves consulting and professional services companies time, money, and aggravation by serving as their outsourced legal counsel.

Posted on May 23, 2014 in Business Transactions

A commercial lease is nothing more than a kind of contract.  Except this one is for renting space that you’ll use for your business–instead of use for your residence. It’s daunting enough that the print on many leases is often in microscopic font (why do you think so many attorneys wear glasses?). But what do those terms actually mean?

From Yahoo! Small Business comes this handy article on common commercial lease terms.  It covers issues you’ll see in the lease such as:

  • The parties (watch how you’re named!)
  • Premises (make sure the description is accurate)
  • Use clauses
  • Term of lease
  • Improvements and alterations

Get yourself a copy, too, of my booklet “Contract Fine Print.”  It demystifies a number of those pesky legalese-y terms that you’ll see in leases and other contracts so that you have a basic understanding of what you’re signing.

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