DO NOT BE FOOLED BY "STANDARD FORM LEASES" and
BEWARE OF CHANGING RULE ON TREATMENT OF LEASES IN TITLE IV
COMPOSITE SCORE
There is no such thing as a "standard lease," even
if the document has that title at the top.
Julie
Mebane, Partner (Real Estate), Duane Morris LLP
If your institution is reviewing a lease form and you are
considering signing it for the tenant, make sure that you don't
gloss over it in the belief that its terms cannot be negotiated.
Usually, many lease terms can be modified and the tenant's
position can be enhanced if you pay attention to its language,
especially a few important provisions:
- Consider starting out by having both
landlord and tenant sign a term sheet with the key business
points summarized. This can avoid confusion and disagreements later
when the lease is reduced to writing.
