Lease /Contract Review - Tenant Exposure & Liability
Budget: $250 – $750 USD
I have a lease that I would like reviewed to expose Tenant liabilities both upon move in and during Tenant Improvements.
According to the previous tenant, the fire suppression system was not completed and a Certificate of Occupancy (CO) was not able to be issued which resulted in the tenant vacating the premises. They stated the owner was nice and promised a lot but under delivered. Lawyers are involved.
It’s a 2-story building with an open courtyard. It has stairs and an elevator. The building has been vacant for approximately a year. The 1st floor is completed and the 2nd floor is a shell.
It would be an ideal space if there weren’t any unforeseen expenses. I don’t think we would be able to afford those.
The negotiated rate & term is great. Modified gross is okay. We don’t want responsibility for any electrical, plumbing or fire suppression system, a/c hvac, roof, etc. which is unreasonable.
We contract with the Department of Child Safety & will use the 1st floor for family services - supervised visits with parents & their children, parent education, support groups, etc. we will also utilize part of the space for a cafe and drug testing, but not together.
Does the use in the lease include those services under it’s permitted use?
Are there timeframes and consequences for the Landlord should there be delays with obtaining the CO or completing TIs?
I would also like to know if the lease in general exposes my home as part of the guarantee?
Are there any suggestions or recommendations in regards to negotiating the terms of this lease?
According to the previous tenant, the fire suppression system was not completed and a Certificate of Occupancy (CO) was not able to be issued which resulted in the tenant vacating the premises. They stated the owner was nice and promised a lot but under delivered. Lawyers are involved.
It’s a 2-story building with an open courtyard. It has stairs and an elevator. The building has been vacant for approximately a year. The 1st floor is completed and the 2nd floor is a shell.
It would be an ideal space if there weren’t any unforeseen expenses. I don’t think we would be able to afford those.
The negotiated rate & term is great. Modified gross is okay. We don’t want responsibility for any electrical, plumbing or fire suppression system, a/c hvac, roof, etc. which is unreasonable.
We contract with the Department of Child Safety & will use the 1st floor for family services - supervised visits with parents & their children, parent education, support groups, etc. we will also utilize part of the space for a cafe and drug testing, but not together.
Does the use in the lease include those services under it’s permitted use?
Are there timeframes and consequences for the Landlord should there be delays with obtaining the CO or completing TIs?
I would also like to know if the lease in general exposes my home as part of the guarantee?
Are there any suggestions or recommendations in regards to negotiating the terms of this lease?