Negotiate The Best Lease For Your Business

by Portman, Janet

• ISBN13: 9781413302165
• ISBN10: 1413302165
• Edition: 2nd
• Format: Paperback
• Copyright: 2005-06-30
• Publisher: Nolo

Summary

Need space for your business? This book shows you the ins and outs of finding a space, negotiating a lease, solving problems and much more.

Table of Contents

Introduction
How Leases Are Made and What They Look Like	2	(1)
How This Book Can Help You Negotiate a Favorable Lease	3	(1)
Part I: Finding and Evaluating Space and Developing a Negotiation Strategy
What Kind of Space Do You Need?
Do You Need to Move Now?	4	(5)
Setting Your Priorities	9	(1)
Rent, Deposits, and Improvements	10	(1)
Location	11	(2)
Length of the Lease and When It Begins	13	(3)
Size and Physical Features	16	(4)
Other Tenants and Services in and Near the Building	20	(1)
Parking	21	(1)
Building Security	21	(1)
Image and Maintenance	22	(1)
Expansion or Purchase Potential	23	(3)
Preparing Your Rental Priorities Worksheet	26	(1)
Subleasing Space	26
Looking for Space and Using Brokers
How to Find Space on Your Own	3	(4)
Working With a Real Estate Broker	7	(5)
The Value of Hiring Your Own Broker	12	(1)
How to Find a Real Estate Broker	13	(1)
How to Choose a Broker	14	(2)
Signing a Contract With Your Broker	16	(5)
Handling Problems With Your Broker	21
Evaluating the Space and the Landlord
Visiting and Evaluating Prospective Space	3	(5)
Further Investigation of Promising Space	8	(4)
Environmental Issues to Consider When Evaluating Space	12	(6)
Learning About the Landlord	18	(6)
Management Companies	24	(1)
Holding the Space With a Deposit	24
Understanding the True Size and Cost of the Rental
How Landlords Measure Square Feet	3	(7)
Additional Rent: Gross Versus Net Leases	10	(3)
Percentage Rent---Sharing Income With the Landlord	13	(2)
Computing the True Rental Cost	15
Setting the Stage to Negotiate
How Much Clout Do You Have?	4	(8)
Your Landlord's Compliance With the Executive Order on Terrorism	12	(2)
Getting Past Deal Breakers	14	(4)
Letter of Intent	18	(9)
Finding and Paying for a Lawyer	27
Your Negotiation Strategy
Your Negotiation Strategy Worksheet	4	(8)
How to Use Your Negotiation Strategy Worksheet	12	(8)
How Your Lawyer Can Help With Negotiations	20	(5)
How to Modify the Landlord's Lease	25
Part II: Common Lease Terms
Lease Basics
Naming the Landlord and Tenant: Parties to the Lease	3	(3)
Describing the Leased Space	6	(3)
The Use Clause and Exclusive Clause	9
The Length of Your Lease
When Do Your Legal Responsibilities Begin and End?	2	(3)
The Crafty Use of ``As of'' [Date]	5	(1)
How to Keep Track of Dates With a Timeline	6	(1)
Staying After the Term Ends: Holdover Rent	7
Rent
Basic Rent	3	(5)
Taxes As Additional Rent	8	(6)
Insurance As Additional Rent	14	(10)
Operating and Common Area Maintenance Costs As Additional Rent	24	(5)
Audit Rights	29
Security Deposits
Where the Landlord Will Keep the Deposit	2	(1)
How the Landlord Will Use the Deposit	3	(1)
When the Landlord May Use the Deposit	4	(1)
The Fate of the Deposit at the End of the Lease	5	(1)
Letter of Credit: An Alternative to a Cash Deposit	6
Improvements and Alterations
Improvements Versus Trade Fixtures	3	(3)
Renting Space in a Building Under Construction	6	(11)
Improvements to Your Space	17
Paying for the Improvements	11	(3)
The Tenant Improvement Allowance (TIA)	14	(2)
The Building Standard Allowance, or ``Build-Out''	16	(1)
Paying a Fixed Amount for Improvements	17	(1)
The Landlord Pays for All Improvements	17	(1)
When Do You Start Paying Rent?	18	(4)
Making Alterations During Your Tenancy	22
Maintenance, Utilities, and Code Compliance
Maintenance, Repairs, and Janitorial Services	2	(4)
Utilities	6	(3)
Compliance With Building Codes and Other Laws	9	(4)
Compliance With the Americans With Disabilities Act (ADA)	13
Parking, Signs, Landlord's Entry, and Security
Parking	2	(1)
Hours of Operation	3	(1)
Signs	4	(1)
Landlord's Right to Enter Your Rental Space	5	(2)
Building Security	7
Option to Renew or Sublet and Other Flexibility Clause
Restrictions on Your Flexibility	3	(2)
Option to Renew the Lease	5	(3)
Option to Expand Clause	8	(3)
Rights of First Refusal and First Offer	11	(2)
Option to Lease Less	13	(3)
The Assignment and Sublet Clause	16	(12)
Termination Clause	28	(5)
Option to Purchase	33
Insurance Clauses
Property and Liability Insurance	2	(1)
Insuring Your Trade Fixtures and Inventory	2	(1)
Rental Interruption Insurance	3	(1)
Business Interruption Insurance	4	(1)
Leasehold Insurance	5	(1)
Waivers of Subrogation Rights	5	(2)
Indemnity or Hold Harmless Clause	7
Breaking the Lease, Disputes, and Attorney Fees
The Landlord's Remedies If You Fail to Pay Rent or Breach Another Lease Term	2	(5)
The ``No Waiver'' Clause	7	(2)
Your Remedies If the Landlord Breaches	9	(2)
Mediation and Arbitration	11	(4)
Attorney Fees	15
Foreclosures, Condemnations, Guarantors, and Other Clauses
Subordination and Attornment	3	(7)
Estoppel Certificates	10	(2)
The Condemnation Clause	12	(5)
Surrender Clause	17	(2)
The ``Entire Agreement'' Clause	19	(1)
The ``Severability'' or ``Survival'' Clause	20	(1)
Lease Guarantors	20	(3)
Signatures	23
Index