A
awkwardQ
Guest
landlord for commercial lease requires tenant to insure building against rebuilding costs.
Hi
I just have a quick question.
Someone signs a commercial lease thinking that the only insurance that was needed was normal tenant cover. Public liability and contents insurance. The landlord wanted a copy of the insurance policy before the lease was signed and this was given to him. The insurance was for public liability and contents, and the landlord didn't note any problems.
Then after a period of several months the landlord turns around and says that the tenant is responsible for insuring the building against rebuilding costs. The tenant can't get insurance for rebuilding costs, so the landlord got the insurance and he expects the tenant to pay. The bill is 800 Euros or so, which is just under a months rent.
Is this fair? Does the tenant have to pay this additional insurance?
Is it unusual for a tenant to have to insure the building against rebuilding costs?
Hi
I just have a quick question.
Someone signs a commercial lease thinking that the only insurance that was needed was normal tenant cover. Public liability and contents insurance. The landlord wanted a copy of the insurance policy before the lease was signed and this was given to him. The insurance was for public liability and contents, and the landlord didn't note any problems.
Then after a period of several months the landlord turns around and says that the tenant is responsible for insuring the building against rebuilding costs. The tenant can't get insurance for rebuilding costs, so the landlord got the insurance and he expects the tenant to pay. The bill is 800 Euros or so, which is just under a months rent.
Is this fair? Does the tenant have to pay this additional insurance?
Is it unusual for a tenant to have to insure the building against rebuilding costs?