A schedule of condition is a formally drafted document that records the condition of a property or built asset at a specific point in time. At the beginning of a lease, one typically procures a schedule of conditions. The main purpose of the schedule is to provide a detailed inventory of the property’s condition, including […]
Entering into a Full Repair and Insuring (FRI) lease is a significant commitment that can have far-reaching implications for both the landlord and tenant. This type of lease places substantial responsibilities on tenants for maintaining the property’s condition and arranging insurance coverage. Before signing an FRI lease, it is crucial to understand the implications and […]
Entering into a Full Repair and Insuring (FRI) lease is a significant commitment that can have far-reaching implications for both the Landlord and the Tenant. It is important to understand that a Lease is just like any other form of Contract. This particular type of lease places substantial responsibility on the Tenant for ensuring that […]