Lease Abstract / Summary

When signing a lease, you become remarkably familiar with the contents of the document as you tweak details and negotiate for major and minor concessions. However, once it is signed, filtering through a dense, fifty-page document is cumbersome when making a site-related decision. What you need at this point is a lease abstract.

Your lease can affect every aspect of your business, from your accountants to your upper management. A lease abstract condenses all relevant information from a lease onto one page, especially issues with monetary implications.  This single reference sheet saves time better spent on your core business.

Another important point to keep in mind: Avoid making long-term business decisions without evaluating the impact of your lease. Lease clauses may kick in with changes in payments and obligations—knowing when new payments may be required can dramatically affect your options.

And conversely, there may be clauses that are favorable to you; for example, we abstracted a lease and asked our client if their security deposit had been reduced as was written in their lease. They informed us it had not. They contacted their landlord per our recommendation and within a week they received a $50,000 check which represented the reduction.

Leases often include complicated and opaque language. A lease abstract provides an easy-to-understand “standard interpretation” and prevents embarrassing mistakes. Lease abstracts can also prove to be a powerful negotiating tool during renewals. Ultimately, a lease abstract cuts down to the bare-bones essentials of the obligations and expectations of your lease and provides you with all the knowledge needed to determine the document’s overall impact on your business.

We have created many, many abstracts over the years and can do so for you. Contact us to discuss creating one for you.