What is the term of a typical lease?
How is the rent quoted?
What is the tenant's option for termination or break?
Negotiable, if a termination option was included in the lease agreement and the tenant must give 90-120 days’ notice.
Does the tenant have the option to renew? What is the length of the typical option?
Yes, the tenant has a right to renew with an average length of 3-5 years depending on contract options.
How is the rent determined at renewal?
Typically, rents are determined by market rent at renewal and are generally negotiated 3-6 months in advance of lease expiration.
What is the typical rent-free period, if any?
Usually a rent-free period of 1-2 months for a 4-5 year lease
What is the typical rent escalation?
Annual bump of 2%-3%, on average.
Does the tenant have the right to sublet?
Yes, as long as landlord agrees and sublessee has similar credit.