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10 Categories of Provisions to Consider in any Commercial Lease
When entering into a lease for commercial space, there are some items that should not be overlooked. Landlords and tenants alike should make sure that the following things are addressed in the lease, one way or another.
1. The Leased Premises Themselves
It seems obvious, but the lease must first and foremost adequately describe the location and size of the leased premises, as errors or omissions can lead to otherwise avoidable complications.
The leased premises can be identified either by way of a legal description (assuming the tenant rents the entire property) or by reference to floor plans of the leased premises — both of which can be attached as an exhibit to the lease.
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