What is the term of a typical lease?
How is the rent quoted?
What is the tenant's option for termination or break?
Right to terminate contract at any time after the sixth month, penalty is 1.5 months’ rent within the first 12 months, and 1 month’ rent after the first year of lease.
Does the tenant have the option to renew? What is the length of the typical option?
Fixed on a case-by-case basis.
How is the rent determined at renewal?
Negotiated before the expiration, usually based on three independent BOVs.
What is the typical rent-free period, if any?
1 to 3 months
What is the typical rent escalation?
Does the tenant have the right to sublet?
Rarely, agreed on a case-by-case basis.