Define the deal before drafting
Prepare a term sheet identifying the parties, premises, intended use, possession date, rent commencement, base rent schedule, renewals, deposits, and any guaranty. Identify which points are agreed and which are still proposals. A clear term sheet reduces the chance that a business concession disappears in a later draft.
Allocate the costs and the work
Ask for express treatment of maintenance, HVAC, roof and structure, utilities, insurance, operating expenses, and capital items. State who performs the work, who pays, what approval is needed, and what records support a reconciliation. Broad labels such as “as is” should be reviewed alongside the specific obligations.
Plan for changes during the term
Review assignment, subletting, ownership changes, alterations, signage, casualty, and renewal procedures. Identify deadlines and the person who will monitor them. Consider whether a sale or financing of the property will require cooperation, estoppels, or lender documents.
Make enforcement practical
Have the default, notice, cure, fee, guaranty, and remedy provisions reviewed together. Identify the address and method for formal notices. Keep the final signed documents separate from negotiation drafts so the management team works from the controlling version.
Prepare for your conversation
Sources & further reading
Shipp Law real estate and commercial lease services ↗Source links checked during preparation on November 4, 2026. Statutes, lease terms, court orders, and the facts of a particular matter must be reviewed together.
