What are the terms of the lease?

Leases are flexible documents. Identify your needs and include them in the final lease agreement before you sign on the dotted line. It is unlikely that the landlord or management company will automatically cover most of them.

Here are some things you might want to consider:

• Escalation clause — how much the rent will go up with inflation (Ask the landlord for documentation on the percentage it has been over the last five years.)

• Renewal option — an option to renew under the original base rent;

• Maintenance — your responsibility for repairs and maintenance, including such items as key duplication, cleaning services, and security systems;

• Insurance — the amount of liability insurance coverage you need to cover damages or injuries caused during the move-in, as well as after you have moved in;

• Move-in and delivery regulations — the hours you can move, the doors and elevators that can be used, and restrictions on the times and types of deliveries to your office;

• Storage space — the amount available, cost for its use, and your ability to build storage space in your area;

• Sublease — permission to sublease and under what terms;

• Restrictions on use — type of equipment you can or cannot use or the type of services you may provide;

• Improvements — assignment of who can make property improvements, what happens to them when the lease terminates (that is, will you be required to restore the property to its original condition?);

• Heating and air conditioning (HVAC) — hours of operation for the HVAC (important if your office works outside the normal 9 to 5 hours and on weekends) and your responsibility for the heating and air conditioning (Is it a percentage based on your square footage? Does your cost include the common areas?)

• Termination — the terms of your right to end the lease, as well as in which circumstances the landlord can do the same.

Consult with an attorney as you negotiate a lease. Tell the attorney the items that are important to you and those areas on which you and the landlord have verbally agreed, so that all of the items are included in the terms of the lease.

The lease provided by the landlord is always prepared in the landlord’s favor, but everything in the lease is subject to negotiation.

Finally, make sure you know what you’re doing before you sign a long-term lease. Surprises are for birthdays, not business.