Adam Bothun 
A right of first refusal, often shortened to ROFR, gives you the chance to match a third party’s offer before the landlord leases space to someone else. When the right covers adjacent space, it becomes a powerful tool for controlling your surroundings and securing room to grow. It is reactive rather than proactive, but in … Read more
Most tenants negotiate for the right to grow. Far fewer negotiate for the right to shrink. Yet contraction rights, which let you give back part of your leased space during the lease term, can be just as valuable. Businesses downsize, go remote, or restructure, and a lease without contraction rights can leave you paying for … Read more
Businesses grow, and growing businesses need more space. An expansion option is a lease clause that gives you the right to take additional space in the building, usually adjacent to your current premises, when it becomes available. It is one of the most practical protections a growing tenant can negotiate. Without an expansion option, growth … Read more
A renewal option is a tenant’s contractual right to extend a lease beyond its original term. It is one of the most valuable clauses a tenant can secure, because it provides control over future space costs and eliminates the risk of being forced to relocate. Yet many tenants either skip the renewal option entirely or … Read more
Buried in most commercial leases is a short clause that can make or break a business: the permitted use clause. It defines what you are allowed to do inside the leased space. Get it right and your business can grow and adapt. Get it wrong and a simple change to your operations could put you … Read more
A letter of intent, often called an LOI, is usually the first written step in a commercial lease deal. It is a short document that summarizes the key business terms the landlord and tenant have agreed to before the full lease is drafted. Think of it as a term sheet that keeps both sides aligned … Read more
An airline needs extra aircraft for the summer season. A charter company wants to launch a new route. A business needs a plane but has no pilots. All three face the same question: should they wet lease or dry lease the aircraft? Wet leases and dry leases are the two fundamental ways to lease an … Read more
Your business needs a 60,000 dollar piece of equipment. You do not want to drain your cash reserves, but you know you will keep the machine long after the payments end. A dollar buyout lease might be the perfect middle ground. Dollar buyout leases are one of the most common equipment financing tools for small … Read more
Your car lease is ending, and the dealership has scheduled a final inspection. You are confident the car is in good shape. Then the inspector circles the bumper, measures a scratch on the door, and starts adding up charges. Suddenly “normal wear and tear” feels like a very expensive phrase. End-of-lease wear and tear charges … Read more
You leased a car two years ago and loved it at first. Then you moved closer to work, started a family, or simply want something different. The lease has eighteen months left, and the early termination fee looks painful. A lease transfer might be your way out. Transferring a car lease means handing the remaining … Read more