Legal Question in Business Law in Tennessee
Can include a clause in a business lease that requires the tenants to pay for fire insurance while leasing my building
Asked on 8/16/11, 10:46 am
1 Answer from Attorneys
Kevin B. Murphy
Franchise Foundations, APC
As a Franchise Attorney I can say the answer is yes, but you have to be careful with the wording. A lot of leases are "triple net" meaning the tenant is responsible for paying the landlord's insurance, property taxes and maintenance expenses. Don't let them take out their own insurance, as they have been known to "forget" to pay premiums and then a disaster hits. Consult with a good real estate or franchise attorney in your area for specific advice.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Foundations, a Professional Corporation
Answered on 8/16/11, 11:47 am
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