38: Navigating a Commercial Lease Agreement with Guest Eric Finkelstein

Stories from Franchisees & Founders   Sourcing a franchise location and learning to understand how a commercial lease agreement works can be daunting. The technical jargon can be overwhelming—and these agreements are riddled with things you need to know. On this episode of Franchise Secrets, I interview Eric Finkelstein and we talk about everything from crafting your Letter of Intent to finessing the final lease agreement itself.   Eric is a commercial real estate attorney at the firm of Chiesa Shahinian & Giantomasi. He graduated from Boston University and Rutgers University School of Law. With years of experience under his belt, he is a wealth of knowledge for his clients and a valuable asset. He's joining us today to give you some insight into commercial real estate!   Outline of This Episode   [0:35] Introduction of Eric Finkelstein [3:45] What a Letter of Intent should contain [7:08] Jumping into details about a commercial lease agreement [12:15] Assignment and subletting [15:49] Covering non-competes: why everyone wants them [20:30] Educate your landlord on your business and how it works [21:25] Sound mitigation issues to consider [25:20] Things to consider in the tail end of lease negotiation [27:45] Tenant improvement dollars (TI dollars) and free rent [32:40] What a tenant should be aware of if their landlord changes [34:10] What happens when the property you lease is reassessed   Resources & People Mentioned   Eric Finkelstein   Chiesa Shahinian & Giantomasi Law Firm   Letter of Intent Connect with Eric   Eric Finkelstein Eric's LinkedIn Connect With Erik   Facebook LinkedIn   For the full episode notes, and to subscribe to the Franchise Secrets Podcast, click here.