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Leasing

VIEWS: 13 PAGES: 16

									           Leasing Terminology




                                 SCORE DISCLAIMER
SCORE is not engaged in rendering legal advice, and this presentation is not a
substitute for the professional advice of an attorney. The following information that
will be provided, is for workshop entertainment purposes only.
             Information Goals
   Which party does the Lease protect the most?

   Determining Fair Leasing Rates

   Common types of Commercial Leases

   Common Terms within a Lease

   Why asking your Attorney to review a Lease
    (Before you sign it) makes good business sense.
        The Lease Agreement

Question:
 Who wrote the Legal Lease Agreement?

Question:
 Will I Be personally obligated to the Lease?

Question:
 Should I have an Attorney negotiate my Lease?

Question:
 Why should an Attorney review my Lease?
A Lease may have Surprises!
       Fundamentals of a Lease
   Dollar Amount and Length of the Lease

   Additional Terms and Conditions

   Additional Agreements   “Personal Guarantee”
                      Types of Leases
   Gross Lease                  Net Lease      (aka Triple Net Lease)


*Small Office Lease           Mfg. , Service Businesses and Retail Lease
Monthly Charge                Monthly Charge
Additional Costs include:     Additional Charges may include:
  Some Utilities                Utilities
*Note                           Taxes
  Landlord has already
                                Maintenance
  calculated the insurance,
  property taxes and            (For Retailer Centers)
  maintenance in the rent.      CAM-Common Area Maintenance
                                Retail Sales Percentage
       Included in the Lease
      Conditions and Clauses
 Annual Rate Increases
 Renewal and Termination timelines
 Assignment of Lease
 Maintenance and Repairs
 Tenant Improvements
 CAM Common Area Maintenance
 Retail Percentage of Sales
         Tenant Improvements

   Is it permanent?   (What does the Lease state?)
         Conditions and Clauses
   CAM and Sales Percentage Charges to the Tenants
        Conditions and Clauses

   Release Clause:
            Key-Anchor Tenant Departs
       *(May have to be included by your attorney)
Summation of Lease Documents
     Lease    Personal Guarantee
Lease Negotiating Skills
The “Personal Flinch” Technique
     Lease Negotiating Skills
   The “NOD” Technique
        Second Commandment of a Sale
      Build rapport with the Landlord
      ( people buy from people they like )
                         &
                      NOD
        to get the Landlord to agree!
       ( this is also a great parental tool )
         Who is Responsible?

Rick Hayden
                          or
Rick Hayden
Managing Member of ABBN, LLC
for ABBN, LLC


* * * Ask your Attorney how to   Sign Documents * * *
  SCORE Workshop Question
Asking an attorney to review your lease before you sign
and accept its obligations makes good business sense?




                     Correct!
    Suggested Reading Reference
   $19.95
    + Tax

								
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