Understanding Commercial Lease Repair and Maintenance Obligations

This episode provides an in-depth overview of commercial lease repairing obligations, emphasising the importance of tenants understanding their responsibilities and double-checking them against those of the landlord. It explains the differences between Full Repairing and Insuring (FRI) leases and Internal Repairing and Insuring (IRI) leases, and the expectations set for tenants regarding proactive and reactive maintenance. Host Gary Marshall also delves into issues related to lease compliance, potential conflicts, and legal notices like the section 146 notice from the 1925 Law of Property Act. The necessity of professional advice for tenants to navigate their obligations and potential disputes effectively is highlighted.

00:00 Understanding Repairing Obligations in Commercial Leases

00:16 Types of Repairing Leases: FRI vs IRI

01:07 Proactive vs Reactive Maintenance

02:03 Insurance and Repair Costs

03:22 Elasticity in Repair Obligations

06:38 Landlord's Rights and Tenant's Responsibilities

07:33 Legal Actions and Tenant's Defense

10:40 Section 146 Notice and the 1925 Law of Property Act

12:37 Schedules of Dilapidations

15:00 Privity of Contract

15:06 Reinstatement Clauses
16:11 Accounting Implications, IFRS and FRS102

17:05 Final Advice for Tenants

Related episodes
IFRS/FRS102
RTFL!

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