Signing a commercial lease? What to have ready
For education only. Not legal advice. Tellbrief is not a law firm.
Before you sign a lease, your lawyer will want to see the landlord’s draft and know what you plan to do in the space.
Records to have ready
- The landlord’s draft lease, letter of intent or term sheet, and any changes already discussed by email.
- The listing or floor plan for the space, with the address and size.
- Any permits or licenses your business needs to operate there, and any you already hold.
- Quotes for build-out or equipment you plan to put in.
Send them only if your lawyer asks. For the first call, knowing where each one is is enough.
Write down your plans for the space
What will happen there day to day: selling, cooking, storing, seeing clients. Note the hours, the number of people, any signs you want, and how long you expect to stay. Your lawyer can then read the lease against how you’ll use the space.
Note the dates
Write down when the landlord wants an answer, when you need to open and when any deposit is due. Bring them to the first call.
Questions worth asking your lawyer
- What should we check in the lease before we sign?
- What happens if we need to leave early, or grow out of the space?
- Who pays for repairs, build-out and anything that goes wrong with the building?
- Is anyone asking us to sign a personal guarantee?
Tellbrief adds questions like these to your brief when your answers point to them.
Questions
Should I sign the letter of intent before I talk to a lawyer?
That’s a question for your lawyer. Bring the letter and the date the landlord wants an answer.
Do I need a lawyer for a small space?
Bring the draft anyway. Your lawyer can tell you which parts matter for a lease your size.
Get your lawyer up to speed before the first call
About 30 questions, most of them one tap, free and with no account. Tellbrief turns your answers into a brief your lawyer can work from, and you keep a copy.
Start your brief →For education only. This article is general information for founders, not legal advice, and reading it doesn’t make you anyone’s client. Tellbrief is not a law firm. For advice about your situation, talk to a licensed lawyer.