{"id":619,"date":"2021-06-29T20:09:18","date_gmt":"2021-06-29T20:09:18","guid":{"rendered":"https:\/\/www.bafcorp.com\/blog\/?p=619"},"modified":"2021-07-09T15:36:22","modified_gmt":"2021-07-09T15:36:22","slug":"what-is-a-commercial-lease-abstract","status":"publish","type":"post","link":"https:\/\/www.bafcorp.com\/blog\/what-is-a-commercial-lease-abstract\/","title":{"rendered":"What is a Commercial Lease Abstract?"},"content":{"rendered":"\n

If you have ever signed a contract before, you know that they are incredibly long and complicated pieces of literature that are virtually impossible to understand without a thorough comprehension of real estate law and liability. For this reason, when signing a commercial lease agreement, it is common to request a lease abstract.<\/p>\n\n\n\n

Continue reading to learn what a commercial lease abstract is, and what should be included in one before making a commitment.<\/p>\n\n\n\n

\"Indianapolis
Indianapolis Indiana Commercial Office 317-253-0531<\/figcaption><\/figure>\n\n\n\n

Commercial Lease Agreements and Abstracts<\/strong><\/h1>\n\n\n\n

It is unrealistic to fully read through and understand every element of a commercial lease agreement. Commercial lease abstracts play an important role in a tenant\u2019s ability to understand what contractual agreement they are signing into, and what is expected of them during their occupation. Basically, a lease abstract is a summary of all the primary and important aspects of the lease agreement.<\/p>\n\n\n\n

Sort of like CliffsNotes for a book you forgot to read in college, a lease abstract covers the basics of the contract and informs you of all the vital facts you need to know, and in a language you can understand. Lease abstracts are constructed to be free of confusing industry jargon, and allow a potential corporate or commercial tenant to fully understand the liability and responsibilities they are taking on if they choose to enter into the lease.<\/p>\n\n\n\n

What Should Be Included in a Lease Abstract?<\/strong><\/h2>\n\n\n\n

Although a summary of the full contract, a lease abstract will (and should) contain a lot of information. The basic information it should have includes:<\/p>\n\n\n\n

\u2611 Tenant\u2019s Full Name
\u2611 Total Cost of Rent
\u2611 Square Footage of the Rental Space
\u2611 Lease Start\/End Date
\u2611 First Rent Payment Due Date
\u2611 Premises Specifications
\u2611 Authorized Use of the Premises
\u2611 Parking Space\/Requirements
\u2611 Accountable Party for Repairs and Maintenance
\u2611 Co-Tenancy\/Sub-Leasing Terms
\u2611 Expansion\/Build-Out Rights
\u2611 Tenant Improvement Allowances
\u2611 Assignability and Exclusivity (if the lease can be transferred)
\u2611 Estoppel<\/p>\n\n\n\n

Are you looking for a trusted commercial management team who can help you find the right commercial office space or warehouse?<\/strong> Contact BAF Corporation<\/a> at 317-253-0531 to learn more about tenant improvement construction<\/a> and space planning services in Indianapolis, Indiana<\/a>.<\/p>\n\n\n\n

You Might Also Enjoy:<\/strong><\/p>\n\n\n\n

Common Operating Costs as a Commercial Tenant<\/a>
Are All Tenant Improvement Allowances the Same?<\/a>
Options for Getting Out of a Commercial Lease<\/a><\/p>\n\n\n\n

\"Indianapolis<\/a>
Contact Us Today 317-253-0531<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

If you have ever signed a contract before, you know that they are incredibly long and complicated pieces of literature that are virtually impossible to understand without a thorough comprehension of real estate law and liability. For this reason, when … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":620,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,12,329,50,103,85],"tags":[314,109,507,542,112,102,190],"class_list":["post-619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-construction","category-commercial-general-contractors","category-commercial-remodeling","category-commercial-space-planning","category-office-building-construction","category-tenant-improvements","tag-commercial-lease-tips","tag-commercial-leases","tag-commercial-office-construction","tag-commercial-office-lease","tag-commercial-real-estate-leases","tag-office-building-construction","tag-office-remodeling"],"_links":{"self":[{"href":"https:\/\/www.bafcorp.com\/blog\/wp-json\/wp\/v2\/posts\/619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bafcorp.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bafcorp.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bafcorp.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bafcorp.com\/blog\/wp-json\/wp\/v2\/comments?post=619"}],"version-history":[{"count":2,"href":"https:\/\/www.bafcorp.com\/blog\/wp-json\/wp\/v2\/posts\/619\/revisions"}],"predecessor-version":[{"id":626,"href":"https:\/\/www.bafcorp.com\/blog\/wp-json\/wp\/v2\/posts\/619\/revisions\/626"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bafcorp.com\/blog\/wp-json\/wp\/v2\/media\/620"}],"wp:attachment":[{"href":"https:\/\/www.bafcorp.com\/blog\/wp-json\/wp\/v2\/media?parent=619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bafcorp.com\/blog\/wp-json\/wp\/v2\/categories?post=619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bafcorp.com\/blog\/wp-json\/wp\/v2\/tags?post=619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}