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For many nonprofit organizations, an office lease represents one of its largest financial commitments. With so much at stake, it is imperative for nonprofits to have an in-depth understanding of the main business terms of a lease, as well as of the special lease issues faced by nonprofit organizations.
In this presentation, we will examine essential lease considerations for nonprofit landlords and tenants, including:
- how operating expense escalation clauses work;
- the real property tax considerations of the nonprofit landlord and tenant;
- strategies that will allow a nonprofit tenant flexibility when its space needs change, such as subletting, assignment and full or partial termination options, and why standard lease assignment clauses do not address the needs of nonprofits;
- “green” buildings, and whether a tenant can require a landlord to maintain a “green” building during the lease term; and
- tips for the negotiation of a comprehensive and favorable lease term sheet.