Definition of Office Lease

An "office lease" is a legal contract where one party (typically referred to as the "landlord" or "lessor") rents office space to a business (typically referred to as the "tenant" or "lessee"). Key negotiating and drafting issues in office leases include:

• The particular space being rented
• The lease term
• The lease payment (typically monthly)
• Payment for any amenities, such as air conditioning, parking, etc.
• The allowed use of the premises
• The rights of the parties to terminate the lease
• The restrictions on assignment and subletting of the lease
• Security deposit
• Any rights of the tenant to renew the lease
• Any rights of the tenant to lease additional/expansion space
• Landlord rights for the breach of the lease by the tenant