Amanda Howard, Esq.
One of the first steps to take when setting up shop for your healthcare business is to sign a lease agreement. Lease agreements are legal contracts between landlords and tenants and they lay out the rules landlords and tenants agree to follow during tenancies.
- Correct names for landlord and tenant: Whoever signs a lease as landlord and tenant is legally responsible for complying with all terms of the lease. That means both parties will want to ensure the other is a legally existing person or entity that can be held accountable.
- Description of the premises: The premises may need to be identified by a specific suite number or include certain areas adjacent or attached to the premises itself. Make sure both parties are clear on what is and what is not deemed to be the “premises.””
- Term: Both parties need to agree on how long the tenancy will last and on what dates the term begins and ends. For example, if both parties are seeking a long-term relationship, they may want a 10-year tenancy with two options to renew the lease. On the other hand, a new start up may only want to sign a 5-year lease for a space with small square footage so that they can find a bigger space once they’ve grown their business.
- Rent: The lease should specify the exact amount of rent due, when it’s due and how it can be paid.
- Maintenance, repairs & replacements: Clearly setting out landlord versus tenant responsibilities is critical to avoid disputes and is particularly important when it comes to expensive obligations like replacing an HVAC unit or roof. Oftentimes, a tenant should be responsible for keeping the space in good and clean condition, whereas a landlord should be responsible for maintaining, repairing and replacing components like the roof, HVAC unit, plumbing/electrical systems and structural walls.
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As a boutique law firm dedicated to supporting the healthcare community, our goal is to ensure our clients are protected. If you have questions about lease reviews, contact us at Florida Healthcare Law Firm to set up a consultation today.