A plain-English guide | Reams Law | November 2026

You have found the right space. The broker sends over the landlord’s “standard” lease — forty pages, single-spaced — and asks for it back by Friday. Most new business owners skim it, check the rent, and sign. Then, a year later, they learn what “triple net” meant when the first reconciliation bill arrives, or what the guaranty meant when the business closes with three years left on the term.

A commercial lease review before signing costs little compared with the obligation itself. Here are the eight terms tenants should negotiate.

1. The real cost of occupancy

Base rent is only part of what you pay. In a triple net (NNN) lease, the tenant also pays a share of the property’s taxes, insurance, and common-area maintenance (CAM). Ask for the last two or three years of actual charges, and negotiate:

• A cap on annual increases in controllable expenses;
• Exclusions for capital improvements, the landlord’s overhead, and costs of leasing to other tenants;
• The right to audit the landlord’s reconciliation.

2. The personal guaranty

Landlords almost always ask small-business tenants to personally guarantee the lease. If you sign an unlimited guaranty on a five-year lease, you are personally liable for five years of rent even if the business fails in the first. Negotiate a cap (for example, twelve months of rent), a “burn-off” after a period of on-time payment, or a “good guy” guaranty that ends when you surrender the space.

3. Tenant improvements and delivery

Who builds out the space, who pays, and what happens if it is late? Tie the start of rent to actual delivery of the space in the agreed condition, not to a calendar date. Put the improvement allowance, its payment schedule, and the landlord’s work in writing.

4. Repairs and replacements

Many leases make the tenant responsible for the HVAC system, plumbing, and sometimes the roof and parking lot. Replacing a rooftop unit can cost more than several months of rent. Have systems inspected before signing, and negotiate limits on your responsibility for replacements, especially near the end of the term.

5. Permitted use and exclusivity

A narrow use clause can prevent you from adding products or services as your business changes. If your business depends on being the only one of its kind in the center, ask for an exclusive-use provision — and check that the property’s zoning and any existing tenants’ exclusives allow what you plan to do.

6. Assignment and subletting

If you sell your business, the buyer will need the lease. If the landlord can refuse consent for any reason, or can take a share of the sale proceeds, the lease can block the sale. Negotiate a standard that consent will not be unreasonably withheld, and a release of your guaranty when a qualified buyer takes over.

7. Renewal options

An option to renew protects the location you have built. Specify how renewal rent is set (a fixed increase is more predictable than “market rate”), and calendar the notice deadline — options are routinely lost because notice was given a few days late.

8. Default, cure, and the landlord’s remedies

Make sure you receive written notice and a reasonable time to cure before a default is declared, and understand what the landlord can do if you default: accelerate rent, lock you out, or take a lien on your equipment. Also check relocation clauses that let the landlord move you to another space.

For landlords

The same clauses matter from the other side. A well-drafted lease form, enforceable guaranties, clear CAM provisions, and precise default procedures prevent most tenant disputes and protect the property’s value to lenders and buyers.

Frequently asked questions

When should I involve a lawyer?

Ideally before the letter of intent is signed, when rent, term, allowance, and guaranty are still open. At the latest, before you sign the lease.

Is a commercial lease really negotiable?

Nearly always, at least in part. How much depends on the market and the size of the space, but guaranty limits, CAM caps, and assignment rights are commonly changed.

Does Oklahoma law protect commercial tenants the way it protects residential tenants?

Much less. Commercial tenants are largely held to the terms of the written lease, which is why the terms matter so much.

Talk to Reams Law

Reams Law reviews and negotiates commercial leases for tenants and landlords. Call (405) 285-6878 or contact us online. Learn more on our Commercial Leasing page.

This article discusses Oklahoma law in general terms. It is not legal advice, and reading it does not make anyone a client of this firm. Statutes change, courts reinterpret them, and the outcome of any matter depends on its own facts. Speak with a lawyer about your situation specifically.