What is a typical lease term?
Most commercial leases run from 3-10 years, with the actual term of the lease being negotiated with the landlord. It is important to identify the start and end points of the lease. Unless the suite is unoccupied, you will want to be assured that the space is available and renovated to your specifications when you are ready to take occupancy. All kinds of last minute situations can occur, such as a disagreement as to when you can gain early access to make your own improvements or install fixtures. It is equally important to specify in the lease what will happen if the space is not ready for occupancy by the move-in date and what adjustments to the rent will be made.
