Commercial Leasing Deal Checklist

Do this before you tour or market anything. Work the tenant rep lines, the landlord rep lines, or both.

• Run discovery first: driver, lease end, decision-maker and all-in budgetAsk what is driving the move, when the lease ends and what the renewal section says, who decides and signs, and the all-in budget including NNN charges. Ask whether the tenant has a signed agreement with another broker.
• Confirm no conflicting broker agreement, and disclose it if your firm lists the buildingIf the tenant is under an exclusive agreement with another broker, do not solicit, and follow your broker's policy and the Realtor Code of Ethics. If your firm lists the building the tenant wants, disclose in writing and get your broker's direction first.
• Sign the tenant rep agreement or the listing agreement for lease before you tour or marketUse the current edition of the Florida Realtors form your broker approves. State the term, exclusivity and an expiration date, and deliver a signed copy promptly. For a written listing agreement, the owner gets a signed copy within 24 hours.
• Write down who pays the commission, the rate or fee, the base and when it is dueCommission is a market practice that varies and is negotiable, and Florida sets no rate. Say whether it is figured on scheduled rent or on rent actually payable after free rent, and name the trigger dates: signing, possession, opening or rent start.
• Set the tail, the renewal and expansion fee, and any tenant shortfall in the agreementSources quote a protection period of about 30 days to a year, so negotiate it and attach a list of presented properties. For a tenant rep, say whether the tenant owes anything if the landlord pays less than agreed, and disclose it up front.
• Put your role in writing and keep each side's position confidentialFlorida presumes a transaction broker unless a single agent relationship is set in writing, and a conservative reading is that the dual-agency ban still applies to leases. Never tell a landlord the tenant's ceiling or deadline, or tell a tenant the landlord's cash needs or lowest rent.

Translate the tenant's operation into specs first, then read the building. Use the industrial lines, the retail lines, or both.

• Industrial: capture pallet positions, trucks per day, and dock and drive-in door countsDoor count decides fit before rent does. Dock-high doors load trailers at truck-bed height and drive-in doors are at ground level. Note trailer types and any drop trailers, since they drive truck court and trailer parking.
• Industrial: list equipment power needs (amps, voltage, phase) and any outside storageAmps alone mislead, so have an electrician size real loads, and say in the lease who pays for a utility upgrade. Outside storage is a zoning question, so check the use table before you promise a yard.
• Industrial: confirm clear height, column spacing and sprinkler type against the gate itemsClear height is measured to the lowest obstruction, not the roof deck. A sprinkler system is designed for a commodity class and storage arrangement, so have the tenant's fire protection engineer or insurer review it before signing.
• Retail: capture concept, trade area, size range, minimum frontage and parking per 1,000 SFVerify demographics independently. Note drive-thru queue needs and, for a restaurant, the grease interceptor, hood and exhaust, because retrofits are costly.
• Retail: note signage, exclusives, co-tenancy and shell versus second-generation spaceSignage rights, exclusives and co-tenancy belong in the proposal. Shell space needs a full build-out, second-generation space was built for another tenant, and the delivery condition should be a lease exhibit.
• Verify square footage, measurement standard and permitted use before you quote or showAsk which BOMA standard and edition produced the number and whether the yard or covered dock is counted. Pull the zoning district and use table, check deed restrictions and other tenants' exclusives, and make permitted use a lease contingency.

Find every realistic option, test each one against the same yardstick, and protect the tenant's calendar.

• Split must-haves from weighted nice-to-haves and get the client to approve the weightsMust-haves are pass or fail gates, such as a minimum clear height, a dock-high door count or a drive-thru. Nice-to-haves are scored 1 to 5 with weights totaling 100, and scores rank options rather than decide.
• Build the survey from listing platforms, your broker network, owner calls and drivingInclude buildings with vacancy but no listing, upcoming move-outs and sublease space. Record address, RSF and measurement basis, clear height, docks and doors, power, base rent and NNN estimate, delivery condition, available date, zoning and listing broker.
• Show all-in year-one cost per SF and label every comp asking or signed, NNN or grossMark every NNN number as an estimate. Never present asking rents as signed rents, and cite the source and date of every market figure.
• Vet each space with the listing broker first, then cluster three to five tours a dayConfirm the gate items from the spec sheet first, so you never tour a space that fails a must-have.
• Walk each space with the touring checklist and follow up within 24 hoursIndustrial: clear height at the lowest point, docks, truck court, power panel, sprinklers, slab, roof and yard rights. Retail: frontage, parking, drive-thru queue, grease and hood, signage panel, exclusives and roof. Send updated scores and the next date.

Turn each package of terms into numbers both sides can compare. Use the same method for every proposal.

• Confirm the rent unit and RSF basis, then compare total occupancy cost, not base rentRent is quoted per rentable SF per year unless the quote says otherwise, so divide by 12 for a monthly figure. Total occupancy cost is base rent plus NNN charges plus whatever else the lease adds.
• Ask for two years of actual NNN charges, the pro rata denominator and any CAM capNNN charges are billed on an estimate and reconciled after year end. Ask what the denominator is, whether variable costs are grossed up, which costs are controllable and capped, and whether an administration fee applies.
• Model each proposal's escalations: fixed percent, dollar step, or CPI with floor and capRun all three on the same starting rent to see the gap. A dollar step is a shrinking percentage, and CPI adds uncertainty, so tenants ask for a cap and landlords ask for a floor.
• State your net effective rent method, then use it for every proposalThe course method is straight-line and undiscounted: build the rent schedule, subtract free rent, subtract the TI allowance, and divide by SF times years. Say whether NNN is payable during the free months.
• Landlord rep: build a pro forma per space showing concessions, commission and paybackLandlord capital is TI, the commission and the free rent given up. Trade concessions for term and credit before cutting face rent, and tie a large TI allowance to a longer term.
• Tenant rep: compare proposals side by side and stress-test the winner's NNN estimateA proposal with higher base rent can cost less all-in, but the edge disappears if actual NNN runs over the estimate. Ask for the last two years of actual charges before you recommend.
• Test the space on the tenant's numbers: sales (retail) or pallets and orders (industrial)Ask for real sales history or throughput instead of using a rule of thumb. If percentage rent applies, a breakpoint below the natural one (base rent divided by the rate) is a stealth rent increase.

Send one form to several landlords, then put every business term in the LOI before anyone pays for a lease draft.

• Send one RFP form to several landlords so the responses compare like for likeAsk for base rent and escalations, the NNN estimate marked as an estimate, TI, free rent, delivery condition and date, renewal options, ROFR or expansion rights, security and the commission agreement. Leave sales tax off for rental periods starting on or after October 1, 2025.
• Fill every LOI term: parties, premises, term, options, rent, NNN, TI, free rent, useUse exact legal names and state the measurement standard and edition. Retail commencement is usually the earlier of days after delivery or opening, with an outside date. Make the delivery condition an exhibit, not a label.
• Mark which LOI paragraphs bind, label NNN as an estimate and set a response deadlineMost LOIs are nonbinding, with confidentiality and a no-shop often made binding. Send any promise to negotiate in good faith to a Florida attorney. A nonbinding LOI never replaces a signed lease.
• Settle the economic range first, put must-have clauses in the LOI, and give only to getA guaranty cap or roof responsibility first raised in the lease is a broken deal, not a tactic. Trade term for free rent, credit for a smaller deposit, and a longer option notice for a lower escalation.
• Set the guaranty and deposit terms: dollar cap, burn-off, good guy or letter of creditFlorida's commercial landlord-tenant statute (chapter 83, Part I) has no section on guaranties or deposits, so both are negotiable. Have counsel draft every guaranty.

Most commercial leases start from the landlord's form. Hold the drafting to the signed LOI.

• Match every lease term to the signed LOI and insist on track changesExpect the first draft to favor the landlord. If the form contradicts the LOI, point to the LOI in writing.
• Keep an issues list with each open point, its owner and its due dateRun zoning, environmental and building-condition checks while you negotiate. Approvals hide delays, from the landlord's lender to insurance certificates.
• Review the money clauses: options, ROFR, use, CAM caps, assignment, default, holdoverUse the lease clauses decoder. Tenant and landlord want different things in each clause, so know both positions before you counter.
• Industrial: check roof and HVAC duty, hazardous materials, yard use and power upgradesIn single-tenant industrial NNN deals the tenant often takes the roof, so it is negotiable. Define hazardous-materials quantities for the actual use, and say who pays for a utility upgrade.
• Retail: check exclusives, co-tenancy, signage, rent commencement and permit-delay languageDefine an exclusive by category with carve-outs, and name rent reduction as the remedy. Tie rent commencement to delivery and permits, with an outside date.
• Route guaranty, indemnity, default, SNDA, recapture and relocation language to counselYou negotiate business terms and run the process. Attorneys draft and advise on legal terms, including enforceability and whether to record a lease or memorandum of lease. Do not practice law.

Education, not legal advice. Confirm every point with your broker of record and a Florida attorney.

• Get a written brokerage agreement and give the owner the lien disclosure by signingThe Commercial Real Estate Leasing Commission Lien Act (F.S. 475.800 to 475.813) needs a written agreement between owner and broker, and the statutory owner disclosure (F.S. 475.803). Without the disclosure there is no enforcement.
• Define occupancy and free rent so the second payment date and commission base are clearA half-and-half payment hinges on whether occupancy means delivery, opening or rent commencement. The same lease yields two different fees on scheduled rent versus rent actually payable.
• Confirm who holds the lien: the named broker, not the associateA tenant-rep broker paid through the listing broker may need its own written agreement with the owner. That is an inference, so ask your broker of record.
• Calendar the 90-day recording deadline from the day the tenant takes possessionThe sworn notice is recorded by the earlier of 90 days after possession or the owner's deed to a bona fide purchaser, and a copy goes to the owner within 7 days. Late is void. Recording is a step for your broker of record and an attorney.
• Route every commission and deposit dollar through your broker of recordAn associate may not collect money in a brokerage transaction except in the employer's name (F.S. 475.42). Never share a commission with an unlicensed referral source (F.S. 475.25(1)(h)).
• Disclose SF source, zoning-dependent use, asking or signed rent, and known conditionsSay a use such as a truck yard or restaurant is subject to zoning and a permit. An NNN estimate is not the cost. If you do not know a condition, say you will find out. Misrepresentation and concealment are grounds for discipline (F.S. 475.25(1)(b)).
• Strike sales tax lines for rental periods beginning October 1, 2025 or laterFlorida repealed sales tax on commercial rent (F.S. 212.031) for those periods, and earlier periods stay taxable even if paid late. Flag old forms to counsel, and refer tax questions to the client's CPA, including whether a truck yard is caught by a remaining tax.
• Read the lease notice and default terms, and never handle a lockout or shutoff yourselfChapter 83, Part I covers tenancy types, notice and removal, but deposits, late fees, CAM and guaranties are left to the lease. Getting possession back takes a court action, tenant surrender or abandonment, so call an attorney.

Signing is day zero. Use the same steps for industrial and retail, and watch the differences.

• Collect insurance certificates, the security deposit and the signed guarantyIndustrial: forklift, yard or hazardous-use coverage. Retail: liability and glass. Any money your brokerage holds goes to escrow through your broker of record, and the guarantor's name, entity and title must match.
• Obtain the SNDA and the estoppel certificate if the lender or the lease requires themAn SNDA protects the tenant if the landlord's lender forecloses, and an estoppel confirms the lease terms and no defaults.
• Settle who pulls permits and pays fees, and time the power, dock, hood and signage workIndustrial: power upgrade, racking, dock work. Retail: signage, hood, grease interceptor. Ask the building department about timing, and say in the lease what happens if a permit or certificate of occupancy is delayed.
• Walk the delivery condition with a punch list and date-stamped photosIndustrial: clear height, dock doors, roof. Retail: HVAC, restrooms, storefront. The punch list is the open items the landlord must fix.
• Send the commencement date memo, then hand off keys and codes against a signed receiptList delivery, rent commencement, first rent step, the option notice window and expiration, ask both sides to confirm or correct, and note that the lease controls. Keys, gate remotes and alarm codes go against a signed receipt.

The lease is the start of the next deal. Calendar it, serve the client, and ask for the introduction.

• Abstract the lease and calendar rent steps, option notice dates and holdover termsUse the lease abstract checklist. Option notice deadlines are commonly 6 to 12 months out, but the lease controls, and missing one can end the right, so remind yourself 60 days ahead.
• Open the renewal talk 12 to 18 months before expirationLeverage disappears late because the landlord knows the tenant cannot move in time. Twelve months is the minimum runway, and holdover rent can be costly.
• Follow up 60 to 90 days after move-in: service question first, referral request secondAsk whether everything works the way the walk-through promised, and take any open item to the landlord's manager. Then ask for one introduction to an owner or operator thinking about space.
• Log expiration, option date, rent step, guaranty, commission status and recording deadlineAdd the renewal outreach and referral-asked dates. A growing industrial tenant may weigh owning, a strong retail operator may want its own site, and a landlord with a leased-up building may consider a sale. Hand those to your broker.