Commercial Building Owners Renting or Renters of Commercial Building?
Sunday, July 19th, 2009 at
4:18 pm
chasing prescription medicine rainbows asked:
Will soon purchase a commercial building. It comes complete with a month to month renter, which only occupies a small percentage of the building. Current owner has month to month agreement with no formalities. I wish to cover my hind end against liability. Renter cuts and does hair. What clause do you have to put in an agreement that makes it clear that hairdresser is responsible for her own liability. I will carry liability on building and my activities but not hairdressers. Fact is I have no knowlege of such a contract and need info quick….(my attorney doesn’t do real estate things) and so far I haven’t found anything useful online in regards to such a contract. Thanks.
Will soon purchase a commercial building. It comes complete with a month to month renter, which only occupies a small percentage of the building. Current owner has month to month agreement with no formalities. I wish to cover my hind end against liability. Renter cuts and does hair. What clause do you have to put in an agreement that makes it clear that hairdresser is responsible for her own liability. I will carry liability on building and my activities but not hairdressers. Fact is I have no knowlege of such a contract and need info quick….(my attorney doesn’t do real estate things) and so far I haven’t found anything useful online in regards to such a contract. Thanks.
. I’m thinking a CPA or comercial property insurance company could tell you. Go pick some minds.
Of course, for a couple hundred $, a real estate or property lawyer should be able to draw up a simple contract.
And you say YOUR lawyer doesn’t do that? Well, he certainly knows WHO would!
First, check out the contracts below. You’d change it to fit your needs.
You either need to change lawyers or speak to a property and casualty/ liability insurance agent for definitions or get a local commercial Realtor to represent you (the best idea since he/she is in the business to find you tenants). From a Realtors view point, you definitely need to get a longer term contract with your tenant. A month to month tenant is almost unheard of in commercial space.