Commercial lease glossary

Amounts payable in addition to base rent under the lease. They may include operating-cost, tax, insurance or other recoveries, depending on the document.

A request for payment of part of a tenant improvement contribution, normally supported by the evidence and conditions identified in the lease or work letter.

A transfer of a tenant's leasehold interest to another party, subject to the lease, landlord consent requirements and applicable law. The label alone does not establish a release.

An amount or other value entered as payable in connection with a proposed lease assignment, before determining its legal, tax or accounting characterization.

A traceable record supporting a candidate premises availability state, including the supplying party, source type, observation date, location of the evidence and whether the source is authorized to make the availability statement.

A business-workflow description that may indicate the parties or their representatives have aligned on a commercial point, subject to the actual wording, authority, conditions, document status and applicable law.

The current monthly contractual base-rent run-rate at the stated date multiplied by twelve, before recoveries, other income, vacancies, concessions and future rollover changes.

The entered date or month when a reviewed amendment change is intended to operate, which can differ from signing, approval, possession, billing or accounting dates.

The comparison of an entered lease area with a confirmed measured area, including the convention, professional, date, source, verification and resulting arithmetic difference.

A controlled identity record for one approval question or decision, including the exact premises, proposed-use version, authority, jurisdiction, application, source, dates, conditions and expiry.

A dated register of official municipal, provincial, territorial, federal, utility and sector sources used to discover or support an approval path.

A transaction or project stage that cannot responsibly advance until its due approval controls, sources and critical exceptions have been addressed.

The jurisdiction-specific allocation of zoning, development, building, inspection, occupancy, licensing and sector responsibilities among municipal, provincial, territorial, federal, utility and other authorities.

The controlled record of prior land-use, development, building, occupancy and operating approvals for the exact premises, distinct from what a prior occupant actually did.

A project-specific review of approvals or conditions under legislation and public requirements that may need to be satisfied before a building permit can be issued, using the terminology of the relevant jurisdiction.

Revenue remaining after subtracting cost of goods sold under the business's accounting definition, before other operating costs, financing and tax.

A structure in which more property costs are included in the stated rent, sometimes with base-year or expense-stop adjustments.

A lease mechanism that may adjust certain variable operating costs to a stated occupancy level for allocation purposes.

Federal goods and services tax or harmonized sales tax. Commercial real-property leases are generally taxable supplies when the supplier is required or chooses to register, subject to the facts.

An arithmetic percentage-rent breakpoint calculated by dividing annual base rent by the stated percentage-rent rate, subject to the actual lease terms.

A normalized base-rent measure after defined rent abatements and incentives, usually expressed per square foot over the term.

A structure in which the tenant pays base rent plus some or most defined property expenses.

The entered period during which a notice or option exercise may be delivered under the controlling documents, potentially including both an earliest permitted date and a final deadline.

A controlled issue-by-issue record of the parties' dated commercial positions, sources, owners, status, selected business position, review requirements and response milestones across negotiation rounds.

A proposal that does not satisfy one or more required response controls, without automatically determining its legal or procurement status.

A controlled planning limit for recurring premises cost, defined by an annual or monthly amount and the cost categories included in that amount.

A defined annual occupancy-cost numerator divided by a defined annual sales or revenue denominator, expressed as a percentage.

The comparison of estimated operating-cost payments with the landlord's calculated actual recoveries for a period.

A contractual right that may allow the tenant to extend the term if stated conditions and notice requirements are satisfied.

The share of a defined portfolio's entered rentable area or current annual occupancy cost associated with a province, property type, business unit, landlord or other disclosed segment.

A controlled inventory that connects material lease and related operating requirements to their authority, responsible party, accountable owner, schedule, evidence state and exception history.

The document or combination of documents currently governing an entered lease term after considering the executed lease, applicable amendments and other controlling instruments.

A source-aware project status describing whether the entered permit, inspection, professional closeout and authority records connected to proposed occupancy have been collected and reviewed.

A final building-safety approval required in some projects or jurisdictions before a building or space may be occupied, subject to the actual authority and scope.

The controlled collection of transfer request, candidate, use, financial, insurance, security, work and authority evidence submitted under the operative lease process.

An obligation that may remain with an original tenant, guarantor or other party after a consented assignment, sublease or related transfer, subject to the actual documents and law.

Common area maintenance, a label often used for shared-property operating costs. The exact included expenses depend on the lease.

A documented modification to construction scope, price, schedule or another contract requirement, which may add cost, provide a credit or reallocate responsibility.

A date from which a lease term or particular obligation begins. Possession, fixturing, lease commencement and rent commencement may be different dates.

An amount retained from construction payments under a contract or applicable provincial law, subject to project roles, statutory rules, lien periods and release conditions.

A negotiated category of operating expenses that may be subject to an increase limit. The definition and exclusions determine what the cap actually covers.

A building or premises record retained for comparison against a controlled tenant requirement, whether its current availability is confirmed, coming soon, unknown, unavailable or withdrawn.

A source-controlled schedule of lease deadlines, notice windows, planning checkpoints, responsibilities, status and completion evidence tied to exact governing-document references.

The internal person or function accountable for monitoring an obligation, assembling or reviewing evidence, escalating exceptions and maintaining the record, whether or not that person is the contractual performing party.

An entered state indicating that a requirement, date, evidence item, outcome or responsibility needs accountable review, correction, escalation or a documented decision.

A supplier document that reverses or reduces all or part of a prior charge while retaining a distinct date, reference, amount and documentary trail.

A dated administrative view of current entered lease terms produced from the preserved baseline and effective amendment chain, with each changed field tied to its source.

A document or record intended to confirm one or more lease dates or related facts after an event, subject to the executed lease, authority, wording, conditions and governing law.

A workflow result indicating that a normalized user-entered civic address corresponded to the address field of a returned source record under the stated matching method.

A site-selection requirement whose failure blocks candidate promotion and whose unknown, unsupported or stale state requires further evidence.

A structured response table for premises, timing, rent, escalation, recoveries, incentives, improvements, security, options and other material proposal terms.

A controlled cycle of questions and sourced answers used to resolve gaps, qualifications or inconsistencies in proposal responses.

The one lease-document version designated for the active reconciliation, subject to confirmation that its complete schedules, plans and incorporated materials have been received.

A user-entered difference between the approved business position and the reviewed current-draft language, without determining legal equivalence or effect.

A probability-weighted user-entered scenario amount for a supported but not executed program qualification, included only with accountable decision approval.

The entered amount of a controlled executed incentive award or agreement that the accountable decision owner has approved for inclusion in the location scenario.

A dated municipal source map that translates a common commercial-property approval control system into the terminology, authority structure, official discovery sources and program screens of one Canadian city.

A jurisdiction-specific permit or approval that may be required when the proposed occupancy or use differs from the current approved state, even if physical construction is limited.

A municipal or borough record used in Montréal and other contexts to authorize a specified operator or activity at specified premises, subject to the applicable local terminology and rules.

The core rent for the premises before separately charged recoveries and other occupancy costs. It may be stated per square foot, per month or per year.

An expense reference period used in some gross or modified-gross leases. The tenant may pay its share of increases above that reference amount.

An interruption, slowdown or service impact caused by construction, phased occupancy, systems migration or a physical move, expressed only through a supportable business-impact assumption.

The share of applicable lease-draft controls with an entered approved position, source document, exact source reference and user-confirmed source verification.

A drafting deviation the accountable business authority has accepted through a recorded decision source, subject to legal and specialist review where required.

The controlled shutdown, removal or disposal of furniture, equipment, technology, inventory and services when premises are vacated or materially reconfigured.

The annual rate used to translate future cash flows into present value for comparison purposes.

A transition period in which the tenant carries cost at both the current and new premises while construction, commissioning, moving or surrender work is completed.

A contractual or legal rule that may specify when a notice is treated as received after a stated delivery method, subject to the complete document, facts and applicable law.

Records retained to support how and when a notice package was transmitted and received, such as the final notice, authorization, courier receipt, tracking history, acknowledgment and file note.

A controlled package of selected business positions, open issues, source references, economics and required reviews delivered into preparation or revision of definitive lease documents.

A workflow measure of whether entered invoice or credit records contain the source references and documentary fields expected by the control design or current review threshold.

The measured time an opportunity spends moving through defined leasing stages or from a stated starting event to an outcome, calculated from a complete dated stage history.

The controlled process of updating every authoritative record affected by an executed lease change, such as the abstract, dates, obligations, billing, portfolio, insurance, construction and accounting systems.

A controlled list of observed incomplete, defective or unresolved premises items with stable IDs, locations, severity, source, responsibility, dates, cost exposure, blocking gates and closeout evidence.

A written control record defining the proposed transaction, intended use, jurisdiction, review categories, decision gates, accountable reviewers, evidence standard and escalation path for commercial lease due diligence.

A controlled catalogue of folders and files assembled for a commercial real estate review, with stable identifiers, versions, access rules and links to the transaction's evidence register.

The common future period over which candidate costs and operating consequences are compared for a stated site-selection decision.

The controlled comparison of approved business positions with the complete current lease draft and incorporated documents.

The rules stating which lease document, schedule, plan, work letter or other incorporated instrument prevails when provisions overlap or conflict.

The share of reviewed controls connected to the one current draft through an exact clause, schedule or page reference and an entered language summary.

A municipal planning approval used in many Canadian jurisdictions to assess a development or use against the applicable land-use framework and policies, subject to local terminology and rules.

A City of Calgary final development approval confirming that a development was built according to an approved development permit where the governing conditions require it.

A chronological register of material project choices showing status, decision owner, date, rationale, source references and any earlier decision that was superseded.

A normalized rent or cost measure that reflects a defined set of payments and incentives over the term. Different practitioners may use different inclusions.

A scheduled change in rent or another charge. It may be a percentage increase, fixed-dollar step or custom schedule.

A portfolio view that groups entered lease expiries by calendar year or planning interval, usually retaining expired or holdover records and later expiries as separate categories.

A disclosed control measure showing whether an obligation that requires proof has an expected evidence type, stable reference, collection or issue date and verification state, with expiry where relevant.

A structured index of requested and received due-diligence evidence, including its source, date, reviewer, verification state, expiry or stale date, decision status and unresolved exception.

A workflow assessment of whether an evidence item was observed, issued or verified within the project's stated review window and remains unexpired as of a selected date.

The final document set presented for signature or executed by the parties, which must be verified against the approved current draft and complete schedules.

The recorded workflow state of a required source or deliverable, such as not requested, requested, received, verified or supported as not applicable.

A period before opening or rent commencement when the tenant may access the premises for construction, installation or setup, subject to the document.

A scaled review that places an operating program, furniture, equipment, circulation and other requirements into an actual premises plan to test practical accommodation.

A period of reduced or abated rent. The abatement may apply only to base rent or to a broader set of recurring charges.

Occupancy after the lease term ends without a replacement agreement, governed by the lease and applicable law.

An amount entered in a premises-handover control file as retained or proposed security for unresolved work, distinct from any statutory, contractual, certified or legally permitted holdback.

Work the landlord agrees to perform or deliver, which may be separate from a tenant improvement allowance.

A documented agreement ending or modifying the landlord-tenant relationship before scheduled expiry on negotiated terms, which may include payments, condition work and surviving liability.

The date the lease term ends, subject to the executed lease, amendments and any valid extension or renewal.

A factor used in some measurement systems to allocate certain shared areas in calculating rentable area from occupant or usable area.

A controlled inventory of leased, committed, holdover and relevant closed locations linked to their governing documents, dates, areas, current costs, owners, strategies and evidence state.

A requirement allocated by the controlling lease documents to a party, such as delivering insurance evidence, maintaining equipment, providing information, operating to a stated standard or completing restoration work.

A lessee financial-reporting obligation representing the present value of lease payments included under the applicable accounting analysis, measured and subsequently updated under the entity's reporting framework and policy.

A component of a contract identified for lease accounting, distinguished from services or other non-lease components according to the applicable framework, contract facts and any approved practical expedient or policy election.

A reassessment and update of a lease liability when a qualifying event or change is identified under the applicable accounting requirements, using the approved effective date, cash flows, discount rate and treatment.

For lease-accounting purposes, the date determined under the applicable framework when the lessor makes the underlying asset available for use by the lessee; it may differ from signing, access, possession, fixturing or rent-start dates used in commercial documents.

The expiry and resulting transition of a tenancy into renewal, re-leasing, vacancy, holdover or another entered outcome, including any downtime and commencement period.

The tenant-improvement allowance, commission and other entered landlord capital associated with an entered renewal or re-leasing scenario, presented separately from planning NOI.

A dated control record joining available premises to current prospects, stage evidence, activity, next actions, proposed economics and outcomes across the landlord leasing process.

The transition of available commercial premises toward executed and commenced occupancy, including the timing and economic effects of proposals, downtime, free rent, recoveries and leasing capital.

A document or agreement intended to change, supplement, confirm or remove terms of an existing lease, subject to the complete document chain, authority, execution, conditions, governing law and facts.

A change to lease scope or consideration that may require a specific accounting assessment under the organization's applicable financial-reporting framework; it is not determined merely by a document title.

A municipal planning classification assigned to land under the applicable bylaw or planning instrument, with permitted, discretionary, conditional and other rules determined by the current jurisdictional framework.

An entered occupancy-cost case combined with supportable location-driven operating deltas such as freight, fleet, labour, utilities, tax, insurance and customer access.

The geography from which an employer may reasonably recruit and retain workers for specific roles, schedules and access conditions, based on dated evidence rather than a fixed universal radius.

A controlled identity record for one lease draft, markup, execution copy, schedule or plan, including its version, dates, completeness state and exact source reference.

A jurisdiction-specific planning decision or confirmation relating to how land or premises may be used, distinct from landlord consent, building safety review and business licensing.

A controlled project index connecting the authority, tasks, evidence, decisions, dependencies, dates and specialist workspaces used across a commercial leasing transaction.

A negotiated structure in which some property costs are included in rent and others are paid or recovered separately.

A dated, source-controlled comparison of commercial property candidates against one tenant requirement, showing availability states, preliminary economics, operating fit, missing evidence, tours and decision status.

The percentage difference between current contractual base rent and a separately entered replacement-rent scenario; in this platform it is arithmetic on user inputs, not an opinion of market rent.

A value or property field reported by a municipal assessment source for its stated assessment purpose, year, parcel and record—not an appraisal or lease-rate opinion.

The supportable high-demand number or percentage of people expected to use a workplace at the same time, which may differ materially from total headcount.

Rent calculated from a defined percentage of sales or revenue, often above an agreed breakpoint, and most common in retail leasing.

The date the tenant is entitled or expected to receive access or control of the premises under the deal documents.

The current value of scheduled future cash flows using a stated discount rate.

The tenant's allocated share of defined property expenses, often related to rentable area but subject to the lease calculation.

A lease-defined transfer category that may receive different consent treatment when every stated condition is satisfied; the label and conditions vary by document.

The retained sequence of sourced proposals and counters for one negotiation issue, showing who proposed each term, when, in which round and from which document or communication.

A negotiated exchange in which movement on one lease term is expressly linked to movement, protection or approval on one or more other terms.

The share of a property's entered rentable area occupied by active or holdover suites at the stated as-of date, kept separate from signed-but-not-commenced space and rent collection.

The controlled transition of commercial premises from project delivery toward tenant control and operation, supported by reviewed source terms, inspection records, access evidence, deficiencies and accountable system handoffs.

A workflow control that groups the entered source, delivery-condition, access, insurance and evidence requirements connected to taking control of premises without determining legal possession.

A jurisdiction-specific review of the actual business activity, premises, prior use, work and operational requirements against applicable planning, permitting, licensing and building-authority processes.

The official land or cadastral subject connected to identifiers such as a legal description, LINC, plan, block, lot, title or municipal parcel record, depending on the jurisdiction.

A dated control record connecting the research question, queried and matched property identity, proposed use, official-source observations, registry references, limitations and unresolved review actions.

A published record showing selected permit fields associated with an address or property, such as number, type, description, status or date, subject to the source's scope and matching method.

The controlled comparison of the parcel, civic address, building, suite or bay, lease description, plan, area, access and appurtenant rights to confirm which physical and legal subject each record addresses.

An assumption, exception, condition, exclusion or limitation attached to a landlord response or specific proposed term.

The complete dated description of primary and ancillary activities, equipment, materials, storage, staffing, vehicles, outdoor use, emissions, construction and planned growth at the premises.

A municipal review product that assesses entered plans or a proposed use against stated zoning requirements before a later licence, building-permit or planning decision, subject to its exact scope.

The dated direct-program status showing whether applications are open, scheduled, paused, closed or otherwise limited, separate from the program's general existence.

A user-entered management target used to coordinate work, distinct from a source date, a date defined or calculated under an executed agreement, and evidence of an actual event.

A negotiated landlord right that may allow the landlord to terminate or reclaim all or part of the premises after receiving a transfer or sublease request.

The date on which a stated rent obligation begins, which may differ by rent category and from lease commencement or possession.

The area used to calculate rent under the stated measurement basis. It may include allocated shared areas in addition to occupant or usable area.

Work the tenant may be required to perform when altering or surrendering the premises, depending on the lease.

An asset recognized under IFRS 16 for a lessee's right to use an underlying asset during the lease term, initially measured from the lease liability and qualifying entered adjustments under the approved accounting analysis.

A period-by-period record of the commercial rent and other recurring charges expected from the controlling lease documents, normally separated by charge category, effective month and source reference.

A landlord or supplier document requesting payment for stated rent or occupancy-related charges, with its own invoice date, due date, line detail, tax fields and service periods.

A property-level control record of rentable premises, occupancy status, tenants, lease terms, current rent, recoveries, expiries and source references at a stated date.

An amendment whose stated or entered effective date precedes its execution date, creating potential legal, billing, tax, accounting and operational consequences.

An interest, instrument or notice shown in an applicable land-registration record, whose nature, priority, current effect and relevance depend on the governing registry, documents, facts and law.

A document addressing whether and on what terms a named party may rely on specified professional work, subject to its exact wording, report, scope, assumptions, limits and governing law.

A document or interest recorded in the applicable land-registration system and identified by its official registration reference, subject to the complete instrument, title, facts and law.

The controlled identity record connecting one landlord response to its recipient, premises, authority, received time, version, source and validity date.

The stated period during which a responding party represents that its proposal remains open, subject to the complete response and applicable law.

A proposed assignee, subtenant or other incoming party being evaluated for a commercial premises transfer, without implying approval or readiness.

A landlord contribution toward eligible tenant improvement costs, usually subject to defined conditions and payment mechanics.

A controlled record of a business's property type, area range, geography, budget, timing, physical criteria, status and confidentiality for a commercial space search.

The committed duration of the lease, excluding or including extension periods as the document provides.

A stated event, approval, evidence item or action that is intended to be satisfied, waived or otherwise addressed by a defined deadline in a proposal, LOI, offer, lease or project plan.

A connected transportation route or network supporting the movement of goods and people through infrastructure such as roads, railways, ports, airports and border facilities.

A controlled request asking selected property representatives to respond to one approved tenant requirement and commercial-term schedule.

Cash, letter of credit or other security delivered in connection with lease obligations, subject to the document.

A structured schedule of workpoints, rooms, operating zones, support functions, quantities and area assumptions that translates business activity into a planning requirement.

An arrangement under which the existing tenant grants occupancy rights to another party while usually remaining bound to the landlord under the head lease.

A disclosed age or review state for property, availability or asking-cost evidence measured from its observation date to the market survey's stated as-of date.

The month or date range to which an invoice or credit line economically relates, which can differ from the document's issue date, due date and payment date.

A disclosed planning percentage associated with a leasing stage and applied when an opportunity has no approved opportunity-specific weight; it is not automatically a measured conversion rate.

A compact source-control record identifying the authority, dataset or document, access route, observation date, match state, record count and limitation for one property-research source.

A defined and answerable property or location question used to compare candidates, with stated importance, weight, expected source and decision consequence.

A recorded project decision that defined controls for one transaction stage are ready to proceed, subject to documented evidence, gaps, accepted risks and decision authority.

An area intended to represent space usable or occupied by the tenant under a stated measurement method. It may be lower than rentable area.

The weighted average of entered remaining lease term across a defined portfolio population, calculated as of a stated date using rentable area, current annual cost or another disclosed weighting basis.

The sum of opportunity area or economics multiplied by entered probabilities, with any disclosed capacity constraint needed to prevent several prospects from exceeding the same vacancy.

In the IFRS 16 context, a lessee-specific discount-rate concept used when the interest rate implicit in the lease is not readily determinable, requiring analysis of comparable borrowing over a similar term and with similar security for a similar-value right-of-use asset in a similar economic environment.

The difference between the net charge expected from the entered rent schedule and the net invoice and credit-note amount allocated to the same category and service month.

An owner-entered planning amount for costs or lost contribution associated with available but unleased premises over a stated period and definition.

A professional whose qualifications, independence, scope and responsibility are appropriate to the environmental assessment or advice required in the applicable jurisdiction and transaction.