How To Get a Good Lease Step 8/10

This little miracle is a seldom used leasing hack that most people skip because they have too much to do.

It will be the gift you give future you.

Step 8. Lease Abstract

A Lease Abstract can take many forms but it’s essentially a summary of all the important terms.

My favorite abstracts give a quick paraphrase and then reference to the section(s) that discuss these lease points.

In three months or 4 years after signing your lease, you will not remember if you have the right to put additional signage up or when you need to notify your landlord of your renewal right.

And you won’t want to skim through your giant lease to find it.

Enter the lease abstract and you’ll want to kiss your past self as you quickly reference the gist and section to read in further depth.

It usually takes 1–2 hours to complete. You could also ask the attorney to prepare it but obviously that will cost money.

You’ll likely find something that you didn’t realize was in the lease. Better to know it now but unfortunately, it’s not too easy to undo.

Once signed, any lease update will require an amendment. Another example of why it pays to get it right the first time.

If you’d like to sign up for my Lease Abstract bootcamp, where I’ll walk you through each step and answer any question about your specific lease.

Sign up for the next training https://bit.ly/3a5kN2Z

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