Tenants concentrate on rent and overlook the provisions that determine total occupancy cost and flexibility.
Term and options. Renewal options at market or at a defined escalation, with a mechanism for determining market and a deadline that is realistic. An option exercisable only in a narrow window, with no reminder obligation, is lost routinely.
Operating expenses. The exclusions list, a cap on controllable expenses, gross-up provisions, base year definition, and audit rights with a period long enough to use them.
Assignment and subletting with permitted transfers for affiliates and corporate transactions, consent not unreasonably withheld, and limits on recapture.
Repair and maintenance. Which systems the landlord maintains, replacement of capital items amortised rather than charged, and a warranty period on delivered systems.
Casualty and condemnation termination rights and rent abatement.
Exclusivity and co-tenancy in retail.
Relocation clauses resisted or narrowed with cost reimbursement.
Holdover at a reasonable multiple, with consequential damages excluded.
Surrender. What must be removed, agreed at signing with a plan attached, or the end-of-term restoration bill is a surprise.
Guaranty limited in amount and duration, with a burn-off.