I am filling out a commercial real estate lease proposal and in the terms clause it lists occupancy date as 8/1 and inception date as 10/1. What is the difference between the two terms? Is inception the first date of rent? Thank you
1 Answer from Attorneys
Hello. Congratulations on your new commercial real estate project. In answer to your question, yes and no. Yes, occupancy date is the date you would move into the space. Inception date is a bit weird, as it is usually used to state the date an insurance policy would take effect. I would have to look at the lease to see how it is being used. If you would like to talk more, please contact me. I offer a free initial consultation for new clients, and I am a licensed attorney in the state of Connecticut.
Best of luck!
Attorney Diana L. Bartolotta