Hello Nolene.

We use the plainest of terms as possible.  At the moment I am testing a
real estate database which will hold all of our lease information,
including costs and utilities.  The following terms are part of this
lease database:

1.  Lease Commencement
        Start Date
        End Date
2.  Move in Date
3.  Lease Costs
        Date Costs Start
        Date Costs End

You are correct in needing a move in date.  We typically have
construction/improvements we need to make to our spaces, so move in
dates are different.  Also, in the last 5 years, we have been seeing 1 -
3 months worth of free rent.

Jean Williams
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-----Original Message-----
From: Records Management Program [mailto:[log in to unmask]] On
Behalf Of Nolene Sherman
Sent: Wednesday, August 31, 2005 5:46 PM
To: [log in to unmask]
Subject: Real Estate Lease terminology

For SOX accounting issues, we have to document specific dates related to
a lease. So, I have a question for folks who deal with leases:

What terminology do you use to indicate the following dates in your
leases:

1. the date a tenant takes possession of their space
2. the date that begins the term of the lease (i.e., if the lease term
is 3 years, when does that three years start -- what do you call that
date)
3. the date that the rent begins to be paid

We are using the terms Lease Commencement Date, Lease Term Commencement
Date and Rent Commencement Date, but there has been some internal
confusion because the first two phrases are similar.

I looked in my Real Estate Dictionary, but it doesn't seem that there is
standard industry terminology for these dates.

Nolene Sherman
Records Manager
CJ Segerstrom & Sons * South Coast Plaza

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