Finally getting out of the basement? Signing a commercial lease is one of the largest liabilities start-ups take on, and yet still many fail to have the document negotiated properly. Most fail to totally understand the terms of the lease beyond the basics such a rent rate and term.

Take “Mike”, a new client who called me about a Lease Default he received. He had failed to pay some additional rent the Landlord was demanding. Mike received the notice yesterday and told me he had five days to respond. Famous last words. In looking at the Lease and default letter, I quickly realized that he only had two days to respond before the default was uncurable and the Landlord could terminate his lease, mortally wounding his business. Mike had 5 days to respond from the date of the notice letter, not from receipt of the notice.

Mike makes great pizzas, but bad leases. He needed me to handle the Landlord. My client went back to making pizzas, I worked out his default issue. Now, Mike knows to call me before he signs the lease renewal. I am a great referral for your friend who is brilliant at that one “thing” but can’t be bothered with the messy legal details of it all.

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