As a commercial landlord in Florida, your duties and responsibilities typically involve far more than just finding tenants and collecting rent each month. While leasing commercial properties to renters can prove to be highly profitable, doing so can also expose you to potential liability if you do not take steps to protect yourself and your property from the outset.
Part of protecting yourself and doing your job to the best of your ability involves fully understanding your role and associated responsibilities. The more you understand about what your tenant expects of you, the less likely you are to face trouble or wind up in litigation. So, what, exactly, are your responsibilities as a commercial landlord?
Key commercial landlord duties
Arguably, one of your most important responsibilities as a commercial landlord involves making sure your property is safe to rent, and this includes making sure it complies with all local building codes currently in place in your area. Failing to do so can lead to serious legal ramifications, so make sure you stay current on any changes or building code developments to avoid possible trouble down the line.
It is up to you, too, to set clear terms within your commercial lease agreement. Key areas to cover include who is responsible for cleaning and maintenance, what types of changes or alterations your tenant has permission to make, and how long he or she can expect it to take you to make repairs when necessary.
As a commercial landlord, it also falls on you to make efforts to prevent damages and otherwise protect your investment. This can involve anything from making sure fire alarms are functioning properly to making sure you have adequate security measures in place in terms of door locks, cameras and so on.
While these are some of the key responsibilities that fall on you as a commercial landlord, please recognize that this is not a comprehensive list of all associated duties required of you.