Strategic commercial leasing
Strategic Commercial Leasing Lease Abstract Assignment The following ques/ons are to be answered referencing the Office Lease Form posted in Canvas in Week 1. If an answer is “no”, please provide the correct answer. As you answer each ques/on, please also note the Sec/on of the lease where obtained your answer. Each answer can be found in at least one Sec/on reference. No credit will be given for answers unless this Sec/on reference is provided. 1. How much no/ce is required if a Tenant decides to exercise its extension op/on? 2. Does the Landlord need to be reasonable when a Tenant requests to assign the lease? 3. Assume that there is a fire on one floor of the Tenant’s Premises in the first year of the lease, and the Tenant is out of business for three months. Is the tenant required to con/nue paying rent and if so, how much rent will they pay? 4. What type of tenancy would the Tenant be under and what would be the amount of monthly base rent the Tenant will pay if the Tenant remains in the space following the expira/on of the Lease Term? 5. What is the NPV of the Tenant’s rent over the ini/al term? 6. If the roof is leaking, or needs to be replaced, is that a Landlord or Tenant responsibility? 7. Is there an annual escala/on of the Base Rent and if so, how much is the escala/on? 8. What is the Expira/on Date of the ini/al lease term assuming the Tenant doesn’t occupy the space un/l September 1, 2024? 9. What is the last day the Tenant can provide no/ce to the Landlord that Tenant intends exercise its Termina/on Right assuming the Tenant occupies the premises on September 1st, 2024? 10. Within how many days of receipt of the Landlord’s statement of actual common area expenses and under what circumstances can the Tenant audit the statement? 11. What are the methods the Landlord and Tenant can use to determine the rental rate for the Extension Term? 12. What is the amount of Business Interrup/on insurance the Tenant is required to maintain throughout the Lease Term?
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