Bass, Berry & Sims attorneys Stefanie Chamberlain, Kean Devine and Tommy Gossett authored an article published by Commercial Property Executive highlighting the importance for commercial tenants and their advisors to thoughtfully consider the landlord’s rules and regulations within their leases to address covenants or obligations that might impact the tenant’s use of the space.

In the article, the attorneys stressed that, while it is tempting for prospective tenants to focus solely on the “big ticket items,” tenants should look beyond the signature pages and into the exhibits to avoid overlooking stipulations that may be most invasive upon their day-to-day activities.

The authors encouraged tenants, brokers and other advisors to insist on being provided an express list of rules and regulations from the landlord during letter of intent (LOI) negotiations and to use LOI negotiations as an opportunity to push for provisions that would require landlord to obtain a tenant’s consent for certain modifications to the rules and regulations, as well as other related tenant-friendly provisions to be included in the lease.

“Though often an afterthought, devoting time and attention to the rules and regulations of a lease during the initial stages of a lease negotiation is crucial in ensuring a commercial tenant’s use of and compatibility with a given space,” concluded the attorneys.

The full article, “Beware the Rules and Regulations: The harmful implications of a common lease exhibit and how to avoid its effects,” was published on April 15 by Commercial Property Executive and is available online.