Write 7 pages with APA style on Full Repairing and Insuring Lease. The roof and the external cladding of the building are visibly damaged and cannot keep rainwater out which will cause consequential d

  

Write 7 pages with APA style on Full Repairing and Insuring Lease. The roof and the external cladding of the building are visibly damaged and cannot keep rainwater out which will cause consequential damage to other parts of the building. The landlord sees the failure to repair as a breach of the repair covenant and considers this an opportunity to terminate the lease.A full repairing and insurance lease is a lease, which shifts the responsibility to repair the premises from the landlord to the tenant. Most commercial leases are full repairing and insurance lease. The most important thing about these leases is the responsibility to repair and maintain the premises. This obligation implies that the premises should be maintained to a standard that is tenantable. A tenant who signs a full repairing and insurance lease must repair the premises irrespective of the cause of damage to the building. Because the obligation placed on the tenant is always huge, most tenants will try to negotiate to reduce their obligation to repair the premises. When the obligation is negotiated, the resulting lease is not a full repairing and insurance lease. A negotiated commercial lease is often desirable, as the cost for repairs will significantly reduce. “Other issues include repairing and insuring clauses and the type of review clause” (UK commercial property: strengthening economy buoys commercial property, 2000, p.1487).A full repairing and insurance lease means that when the lease period is over, the premises must be reinstated to its original form and shape. If there were any alterations to the building, the tenant is obligated to revert the property to its original condition. The tenant must also cover all the dilapidations on the premises before being released. A full repairing and insurance lease essentially means that the tenant will always have an obligation to continuously repair the premises (UK commercial property: strengthening economy buoys commercial property, 2000).Dilapidations are an issue that has to be dealt with by the landlord and the tenant in most full repair and insurance leases. The essence of dilapidations is that the landlord should be compensated by the tenant if the obligations set out in the lease agreement are breached. Dilapidations often arise when the tenant contravenes his obligations under the lease. These obligations include the duty to repair and reinstate the building. A schedule of dilapidations, which is issued by the landlord, serves as a record of the breaches in the covenant.&nbsp.

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