As a Florida commercial landlord, one of your best bets at protecting yourself against litigation is to create carefully worded commercial leases that reflect your needs and represent your best interests. In the event that a tenant decides to file a suit against you or otherwise take you to court, the information in your commercial lease may end up being your best line of defense against this person.
What should you be sure to include in your commercial lease agreement?
Important lease terms
There are certain key areas all commercial landlords ought to address in their commercial leases. For starters, you will want to be extremely clear about describing the premises and outlining exactly what space will be available to your tenant. You should also outline how you expect your tenant to use the space and what you expect them to pay you to do so. It is important that you include language in this section about base rent and, if applicable, any additional rents or expenses you expect your tenant to cover during the lease term.
You can also help minimize your own financial risks by including clear information about security deposits, letters of credit, insurance coverage requirements and the like. This way, you can protect yourself in the event your tenant fails to pay on time or at all. Furthermore, you will likely want to include language about repairs and alterations your tenant may make and whether there are rules associated with doing so. It is also essential that you set clear terms requiring the tenant to surrender your commercial property in the same manner he or she found it once your lease term concludes.
Other things to consider
While these are some of the key elements any commercial lease should address, please note that this is not an exhaustive list of all areas you may want to include. Find out what else would be relevant to your specific properties and circumstances.