HOW TO READ A COMMERCIAL LEASE - COMPANION FILES
julianrsterling.com/lease

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Revised 23 September 2026.

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WHAT IS IN THE ARCHIVE

1. The book's workbook, corrected
   The_Mark_to_Market_Made_Usable.xlsx     Chapters 10, 18 and 19, Appendix F
   00_START_HERE.md                        what changed is at the end

2. Blank_Model_Set/  (new)
   The_Mark_to_Market_Made_Usable_Blank.xlsx
   The same model with every input emptied, for your own rent roll: up to
   six tenancies, the leasing costs, the renewal probability, the renewal
   option and the clause bridge. The checks sheet counts what is still
   missing and tests what holds for any inputs. The book's figures are in
   book_inputs.txt.

3. Working_Documents.pdf  (new)
   Thirteen printable pages: the lease abstract in two pages, the file and
   the three tests, the net effective rent worksheet, the twenty-four cost
   categories, the recovery checklist and gross-up, the options schedule
   and notice diary, the security schedule, retail (percentage rent,
   exclusives, co-tenancy), the risk provisions, renew or re-let, the one
   page a valuation should produce, and the forty red flags.
   A4, fits Letter.

4. Forty_Questions.xlsx  (new)
   Forty questions across the book, marked by the file as you type.

5. Cases/  (new)
   Case_1_The_Cap_Built_as_a_Schedule.xlsx      Chapters 8 and 19
   Case_2_The_Anchor_Goes_Dark.xlsx             Chapters 3, 12 and 14
   Case_3_The_Renewal_Option_Priced.xlsx        Chapters 10 and 19
   Each case: the note on the first sheet, the model after it, checks at the end.

The files open in Excel, LibreOffice Calc, Google Sheets and Numbers. No macros.
