Today's Tenant Rep Tuesday Tip topic: The Commercial Lease Commencement Date
The lease commencement date in a commercial lease refers to the start date of the lease. Do note, the lease commencement date is not always the date the Tenant begins paying rent as rent abatement or early occupancy may have been negotiated as part of the commercial lease
Commercial lease commencement dates will be different in each lease depending on the existing condition of the commercial space rented or what has been negotiated as part of the commercial lease.
★Example: if tenant improvements are needed, the lease commencement date stated as the earlier or later of the date a Tenant occupies any portion of a space and begins conducting business, or the date on which the improvements have been completed by the landlord as per agreed in previous negotiations.
If no tenant improvements are needed the lease commencement date may say the earlier of a specified date or the date when a Tenant begins occupying the space.
Be sure to follow us on LinkedIn for the most current #TRTT insight.
Have questions or comments?
Reach out to us at 281-210-3090 or firstname.lastname@example.org