This Episode covers the very basics of a Lease in the Commercial Real Estate Tenant Improvement world.

What is it? Why Lease? Who is involved, and what are some of the challenges we see after a Lease is signed.

This discussion is really for those who are either relatively new to the industry, or just never got into the details of a Lease Negotiation, and want to have some General Knowledge about the Topic. If you are a Broker, you don't have to listen to this, but if you do, I appreciate feedback.

The word "lease" gets thrown around a lot. Because it is so commonly used, many people go along with it pretending they understand it.

I was one of them.

It was not until I moved into the Project Management side, and had to review leases in detail, that I really began to understand what was inside them.

That said, my involvement is primarily focused on the Work Letter portion. There are brokers and attorneys who specialize in lease negotiations at a much deeper level.

I am simply explaining it so average person can understand what it's all about, and why it's a big deal.