Signing a commercial lease in New York City almost always involves some form of personal guarantee. Landlords want a person, not just a company, standing behind the rent obligation. For tenants, that demand can feel like a deal breaker, since a full personal guarantee puts personal savings and investments on the line for the entire … Read more

When you sign a car lease, you agree to return the vehicle after a set number of miles. Most leases allow 10,000 to 15,000 miles per year. If you go over that limit, the leasing company charges you for every extra mile. This is called lease mileage overage, and it can add up to hundreds … Read more

Opening a retail store in a shopping center is a major commitment. You sign a long-term lease, invest in build-outs and inventory, and build your customer base around the foot traffic that the center promises. But what happens when the anchor store closes, neighboring storefronts sit empty, or the center loses the mix of retailers … Read more

If you are signing a commercial lease, the rent figure on the first page is only part of the story. Many office and retail leases use a base year lease structure, which means your rent can rise each year as the building’s operating expenses grow. Understanding how the base year works helps you predict your … Read more

When you tour office space, the broker tells you a suite is 1,000 square feet, but the rent quote is based on 1,150 square feet. That gap is not a mistake. It comes from two different ways of measuring commercial space, and understanding rentable vs usable square feet is one of the most practical skills … Read more

Commercial tenants usually face a choice between two extremes. A gross lease bundles nearly every property expense into one rent payment, while a net lease piles taxes, insurance, and maintenance on top of the base rent. Many businesses find neither option comfortable. The modified gross lease offers a middle path, splitting expenses between landlord and … Read more

If you are signing a commercial lease for office space, retail space, or an industrial unit, you will run into the phrase CAM charges early in the process. Many tenants learn what are CAM charges only after the first bill arrives, which is the wrong time to figure it out. Common Area Maintenance charges are … Read more

Your lease ended last month, but you are still living in the apartment. The landlord has not said anything yet, and your rent check cleared as usual. You might feel like nothing has changed, but legally, a lot has. When a tenant stays in a rental unit after the lease term expires without a new … Read more

Leases change over time. A tenant gets a pet, a landlord agrees to new parking rules, or both sides decide to extend the term by six months. When that happens, you need a way to document the change so everyone is protected. Two of the most common tools for this are the lease addendum and … Read more

When your lease term is coming to an end, you face a decision that will shape your living situation for the next year or more. A lease renewal is your chance to stay in a home you like while improving the terms of your agreement. Many renters simply sign whatever renewal offer arrives in the … Read more