Lease Glossary

Glossary

Rent Escalation

What rent escalation means, the main types — fixed steps, CPI-indexed, and fair-market resets — and why multi-location tenants miss them and pay more than budgeted.

Glossary

Renewal Option

What a renewal option is, the notice window and written-notice requirement, how it differs from an extension option, and why missing the deadline quietly costs leverage.

Glossary

Percentage Rent

What percentage rent is, how natural and artificial breakpoints work, and the recurring sales reporting and calculation deadlines it creates for multi-location tenants.

Glossary

Lease Obligation

What a lease obligation is, the main categories that carry deadlines, and why the silent ones — rights that expire unused — are the costliest to miss.

Glossary

Lease Abstraction

What lease abstraction is, what a good lease abstract captures, and why it is the first step in turning a portfolio of leases into a trackable system of record.

Glossary

Kick-Out Clause

What a kick-out clause is, how the sales hurdle and measurement date work, and why both landlords and multi-location tenants track the termination deadline.

Glossary

Exclusive Use Clause

What an exclusive use clause is, how it protects a tenant from nearby competitors, the common carve-outs, and the remedies available when a landlord breaches it.

Glossary

Common Area Maintenance (CAM)

What common area maintenance (CAM) charges are, how the annual CAM reconciliation works, and what multi-location tenants should review before paying.

Glossary

Co-Tenancy Clause

What a co-tenancy clause is, the difference between opening and ongoing co-tenancy, the remedies it provides, and why the relief only applies if a tenant acts in time.

Glossary

CAM Reconciliation

What a CAM reconciliation is, how the annual true-up between estimated and actual expenses works, the audit window, and the overcharges multi-location tenants should catch.