Leases form an integral part of property management. As restaurant facility professionals, however, we do not get to negotiate these leases that originate with the property owner or developer. Therefore, it's vital that we understand what is in a lease and live within its terms. Have you ever had issues with interpreting the myriad of leases within your company? This lesson will cover the basics of property leases as they apply to facilities. You will then be able to apply this knowledge to the maintenance and improvement of your restaurant property. By the end of this lesson, you will be able to:
- Define terminology related to leases.
- Describe useful information found in sections of a lease document.
- Interpret lease responsibilities and applications.