The New Owner’s Lease: Seven Edits That Protect Cash Without Moving

You don’t need a perfect lease to open strong. You need a workable one—clear on costs, predictable in the ways that matter to lenders, and forgiving when life intrudes.

Start with the part that bloats quietly: common-area maintenance. Ask the landlord to cap annual increases and to exclude items that have nothing to do with keeping the lights on—capital projects, their legal fees, marketing. Pair that with a right to see the backup. You’re not trying to win an audit war; you’re trying to keep operating expenses from creeping faster than revenue.

If you’re renewing or adding term, talk about the base year for pass-throughs. Resetting the reference year to something recent can be worth real money over the next cycle. It’s an easy give-get: you accept another year; they reset the clock.

HVAC is where many tenants discover they’ve adopted an old compressor. A sensible split—landlord handles capital replacements, you handle filters and routine service—keeps a single bad day from eating a month’s profit. Write it down; “we’ll work it out” turns into “we’ll argue about it” when a crane shows up.

Relocation clauses are a paradox. Landlords like options; lenders like stability. If the clause must stay, narrow it: longer notice, same or smaller footprint, landlord pays for the move and fit-out, and rent abates until you’re operational. That makes it a contingency plan, not a threat.

Your right to stay if the landlord’s lender steps in comes from three letters—SNDA—and your lender will look for it. Get it signed. Similarly, keep assignment and sublet rights on a sensible leash—consent not unreasonably withheld—so you can sell or restructure without begging.

If you can extract a modest tenant-improvement allowance or simply early entry to run power, racking, or signage, take it. Days saved at the front end are often cheaper than dollars saved on rent.

This is also a family conversation. Put renewal, termination, and relocation notice dates on the shared calendar; store the SNDA and insurance certificates where someone besides you can find them. “We might need to move mid-semester” lands differently at home when there’s a plan.

How we help. We redline the seven terms that matter, align the document with your lender’s checklist, and keep the edits practical so your landlord can say yes without a committee meeting.

Bottom line: Sign fast and safe, not fancy. Fix the quiet leaks, paper the protections, and open your doors without spending next year’s margin.