Property Management Abstract

This Abstract focuses on the lease data most important in the management of commercial real estate property. Serving as a practical guide to day-to-day management concerns, this is an invaluable tool for: investors conducting deep due diligence prior to acquisition; buyers who have just completed an acquisition; and companies involved in commercial real estate management.

Basic Information

• Landlord
• Tenant
• Sublease

• Property Address
• Floor#
• Suite#

• Rentable Square Feet
• Pro Rata Share
• Business Hours*

Term

• Lease Commencement Date
• Rent Commencement Date

• Lease Expiration Date
• Term

• Holdover

Rent

• Base Rent
• Renewal Rent
• Other Rent (storage/parking)

• Rent Abatement
• Security Deposit
• Late Fee

• Interest

Percentage Rent

• Gross Sales - Inclusions*
• Gross Sales - Exclusions*

• Breakpoints*
• Sales Reporting*

• Landlord Audit Rights

Additional Rent

• CAM/Operating Expenses
• Real Estate Taxes
• Base Year/Expense Stop
• Gross Up

• Landlord’s Insurance
• Utilities-Premises
• Marketing Fund*
• Tenant Audit Rights

• After Hours HVAC
• Landlord Services
• Repairs/Maintenance

Tenant Options

• Renewal
• Expansion
• Contraction

• Right of First Refusal
• Right of Offer
• Termination

• Relocation
• Purchase

Landlord Options

• Termination
• Relocation

Use/Restrictions

• Permitted Use*
• Prohibited Use
• Exclusive Use

• Tenant Radius Restrictions
• Continuous Operation/Go Dark*

• Co-Tenancy*
• Landlord Restrictions*

Legal/Financial

• Assignment and Subletting
• Subordination/SNDA

• Default
• Estoppel Certificate

• Landlord Notices
• Tenant Notices

Miscellaneous

• Tenant’s Insurance
• Tenant Improvements
• Alterations

• Casualty
• Condemnation
• Signage

• Parking
• Merchant’s Association*
• Environmental Provisions

Additional Information

• Guarantor
• Brokers

• Additional Documents
• Abstractor Notes

• Missing/Conflicting Info

Recovery Detail

• Pro Rata Share
• CAM/Operating
• Expenses Preamble

• Gross Up
• Caps
• Base Year/Expense Stop

• Reconciliation Statement
• Tenant Audit Rights

Common Areas

• CAM Repairs
• Landscape Maintenance
• Snow Removal
• Structural Repairs

• Roof Repairs
• Roof Replacements
• Parking Lot Maintenance
• Parking Lot Replacements

• Janitorial
• Security
• ADA Upgrades
• Real Estate Taxes

Insurance

• Liability
• Umbrella
• Property

• Earthquake
• Flood
• Workers Comp.

• Employer’s Liability
• Business Insurance
• Other

Utilities

• Electric
• Gas
• Water
• Major Replacements/Capital Improvements

• Management Fee
• Admin Fee
• Employee Wages
• Marketing Fund
• Reserves

• Amortization on Expenses

Premises

• HVAC
• After Hours Utilities/HVAC
• Janitorial
• Interior Maintenance

• Exterior Maintenance
• ADA Upgrades
• Electric
• Gas

• Water
• Admin Fee
• Landlord Services