Description

The conversation discusses the importance of understanding the difference between the effective date and the commencement date in commercial leases. The effective date is when the lease officially begins, while the commencement date is when the tenant starts paying rent. The commencement date is often later than the effective date because tenants need time to renovate and obtain permits. It is crucial for landlords to be aware of these dates to manage cash flow effectively. Reading the fine print and knowing the dates is essential.

Takeaways

1. Commercial leases have two important dates: the effective date and the commencement date.
2. The effective date is when the lease officially begins, while the commencement date is when the tenant starts paying rent.
3. The commencement date is often later than the effective date due to renovations and obtaining permits.
4. Landlords need to be aware of these dates to manage cash flow effectively.
5. Reading the fine print and understanding the dates is crucial in commercial leases.

Chapters

00:00 Introduction: The Importance of Dates in Commercial Leases

01:25 Renovations and Agreements: Delaying Rent Payment

04:30 Variable Commencement Dates and Lease Addendums

06:05 Importance of Understanding Dates for Cash Flow Management

06:31 Conclusion: Read the Fine Print and Know Your Dates

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