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Tenant vs Landlord

FIXTURES AND FITTINGS

TENANTS AND LANDLORDS

WHO IS RESPONSIBLE TO INSURE WHAT?

 

Whether you are a Building/Property Owner or a Tenant renting out space from a Third Party, it is very important to know who is responsible for the insurance in respect of fixtures and fitting and glass cover.

 It is vital that the Lease Agreement is read and understood by both parties concerned as this will indicate who is responsible for the insurance.  Even though the Building Owner has not paid for the fixtures and fittings, the lease Agreement may stipulate that these now belong to the building owner (in the event that the Tenant vacates the premises at some stage) and then it is most likely the building owner will have the responsibility of insuring these items.

 Likewise, the Tenant does not own the building however, the lease Agreement may call for the Tenant to be responsible for all glass damage – the Tenant must then ensure that cover for Glass is in place.

 A point to note – if the landlord and the tenant are the same “natural person” trading under two different legal entities, the same principles will be applied as if the landlord and tenant were totally unrelated parties on the lease Agreement.

 Do not wait for claim stage to refer to your lease Agreement – make sure of your responsibilities right in the beginning.

 Should you require any additional information or clarity on this subject, please do not hesitate to call our office for assistance

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