How to Review a Commercial Lease: Terms + Definitions

Click on the lease terms to get to their definition :

• Additional Rent
• Agent
• Alterations
• Anchor Tenant
• Arbitration
• Assessments
• Assignment
• Base Rent
• Base Year
• Building or “Core” Factor
• Build-Out
• Building Class
• Certificate of Occupancy
• Clear-Span Facility
• Common Area
• Common Area Maintenance (CAM)
• Common Area Maintenance (CAM) Cap
• Condemnation
• Consideration
• Default
• Demised Premises
• Doing Business As (D/B/A)
• Due Diligence
• Easement
• Eminent Domain
• Estoppel Certificate
• Exclusivity
• Execution
• Expense Stop
• Fair Market Value
• Flex Space
• Floor Plan
• Fit-Out
• Gross Lease
• Guaranty
• Hazardous Waste
• Heating, Ventilation, and Air Conditioning (HVAC)
• Holding Over
• Indemnity
• Kick-Out Clause
• Landlord
• Lease
• Leasehold Estate
• Lessee
• Lessor
• Letter of Credit
• Letter of Intent (LOI)
• Lien
• Liquidated Damages
• Load Factor
• Mechanic’s Lien
• Mediation
• Merchant’s Association
• Minimum Rent (also referred to as “Base Rent”)
• Mortgage
• Multi-Tenant
• Net Lease
• Non-Competition Clause
• Occupancy Cost
• Option
• Ordinances
• Partial Taking
• Percentage Rent
• Permitted Uses
• Possession
• Premises
• Prime Lease
• Pro-rata Share
• Property
• Quiet Enjoyment
• Recapture
• Recordation
• Relocation
• Rent
• Rent Abatement
• Rent Concession
• Rentable Area
• Right of First Refusal
• Rules and Regulations
• Single-Tenant
• Square Feet
• Structural Elements
• Sublease
• Subordination
• Subrogation
• Tenant
• Tenant Improvement (TI) Allowance
• Tenant Improvements
• Term
• Termination
• Trade Fixtures
• Triple Net (NNN) Lease
• UCC-1
• Usable Area
• Use Clause
• Use Permit
• Valuation
• Waiver

These sources provide more in-depth guidance on understanding lease terms and comparing sample language.