Do you own a commercial property in Kansa City, MO that you rent out to a local business? Are you a business owner who leases a commercial building? We know that many of you may have questions about what happens when there is damage to the property you lease or rent. Saxton Law Firm may be able to help answer questions like – who is responsible for the damages to a business property? Find out more about what a small business attorney can do for you and your business in the Kansas City area.
Who Is Responsible for Repairs in a Business Lease?
No matter what end of a commercial lease you are on – tenant or property owner – it is important to understand the ins and outs of the lease agreement and who is responsible for repairs and damages to the property. Does the HVAC System need repairs? Is there an issue with the electrical system that needs to be repaired? Did your business suffer flood damage or storm damage that needs to be fixed?
Here is a better look at the responsibilities of tenants and property owners in a commercial lease created by Saxton Law Firm.
Property Owner Responsibilities in a Commercial Lease
When you lease a commercial property to a business owner, as the landlord, you are responsible for most structural damage, repairs or issues – which includes the foundation, walls and roof of the property. In addition to structural damage, most landlords are responsible for heating, cooling and electrical systems on the property and it is your responsibility to ensure the building is up to fire code standards in your area.
In the event that repairs are needed to major elements of the property, it is smart for the property owner to bear the financial responsibility. This allows you to ensure that the repairs are done by a licensed professional and done up to specific standards. This will protect you and your property from future issues and damages.
Tenant Responsibilities in a Commercial Lease
If you are a business owner who leases a commercial property, you need to know and understand your responsibilities when the property is damaged to avoid unnecessary payments and potential lawsuits. The specifics of your responsibilities will be outlined in your lease contract and Saxton Law Firm can help you better understand your obligations in a commercial lease if needed.
Tenants of a property are most often responsible for elements of the property that will wear or break down due to regular use – flooring, wallpaper, bathroom fixtures, kitchen fixtures, lighting fixtures (not wiring) and more. Business tenants who lease an entire property may benefit from a triple net lease that makes you responsible for any and all repairs. This type of lease is best used over a longer period.
READ MORE: Can You File a Lawsuit Against an Insurance Company for Damages?
Are you a business owner or a commercial property owner in the Kansas City area? You may ask – who is responsible for the damages to a business property? Saxton Law Firm is here to help answer your small business law questions. Contact the Saxton Law Firm Team today for more information on small business lawsuits and insurance issues!