The total duration of the initial lease term expressed in months.
By Angel Campa, Founder · Updated March 2026
Lease term length directly impacts total financial exposure. A 120-month lease at $10,000/month represents $1.2 million in total base rent obligation. The term also affects amortization of TI allowances, free rent concessions, and tenant improvement costs. Longer terms provide stability but reduce flexibility, especially if the tenant's space needs change.
Stated in the "Term" section, typically expressed as a number of months or years. May need to be calculated from the commencement and expiration dates if not stated explicitly.
Lextract uses a combination of AWS Textract OCR and Claude AI to identify and extract the lease term (months) from your lease PDF. The AI searches for all pages of the document, then assigns a confidence score based on OCR quality and extraction certainty. Fields with lower confidence are flagged for human review.
Lextract automatically checks this field against its 15-rule red flag engine. Issues detected for lease term (months):
Execution Date
The date the lease agreement was fully signed by all parties.
Commencement Date
The date the legal term of the lease officially begins.
Rent Commencement
The date the tenant is legally obligated to begin paying base rent.
Expiration Date
The date the lease term naturally concludes without renewal.
Possession Date
The date the landlord grants the tenant physical access to the space.
Free Rent Period
The duration during which the tenant is excused from paying base rent.
Office leases typically run 5 to 10 years, retail leases 5 to 15 years, and industrial leases 3 to 10 years. Shorter terms give tenants flexibility; longer terms provide landlords with revenue certainty and make the property more attractive for financing.
Yes. The lease term is the total duration from commencement to expiration, regardless of whether rent is abated during any portion. A 60-month lease with 3 months of free rent still has a 60-month term.
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