Reprinted with permission from Probate & Property, March/April 2018 (32:2), at 36-39. ©2018 by the American Bar Association. Reprinted with permission. All rights reserved. This information or any or portion thereof may not be copied or disseminated in any form or by any means or stored in an electronic database or retrieval system without the express written consent of the American Bar Association.
One should not underestimate the value to the landlord (or its lawyer) in being able to fill in the specific business terms in its forms and then to send them to the tenants for their review and, possibly, their signatures. Even in a situation in which a tenant has numerous comments to the lease form, the landlord or its counsel may have developed standard provisions, which have been used in prior leases, that can be inserted to deal with those comments. These provisions may not only expedite the finalization of a lease but also substantially reduce the landlord’s legal fees for doing its lease deals.