![]() ![]() Tenants should confirm they have no obligation to remove any improvements that existed on the date they took possession.ĥ. ![]() Existing Improvements: Oftentimes, businesses lease or sublease space that was previously improved by a prior tenant for a prior lease. Indeed, if the tenant made any alterations or improvements, the tenant should try to have the landlord agree that any alterations the tenant made during the term may remain in the premises when surrendered.Ĥ. Alterations: If possible, tenants should confirm that they do not need to restore the premises back to its original buildout. Tenants may also want to have a pre-surrender walkthrough of the premises to confirm with the landlord that there are no issues that would allow the landlord to retain a security deposit.ģ. Security Deposit: Tenants should review their lease to confirm when, and under what circumstances, the landlord must return the security deposit. It is also common that a tenant is required to pay for any damage caused by the removal of signage.Ģ. Retail and office leases commonly require the tenant to remove all exterior signs, whether on the premises or elsewhere at a shopping center or office building. Signage: A tenant should review its lease regarding removal of signage. MacQueen is a founder of MacQueen & Gottlieb, PLC.ġ. When a lease termination occurs, the tenant should consider the following five issues to avoid unexpected obligations and expenses: Patrick R. With the uptick in commercial tenants terminating their leases and vacating leased premises due to economic issues, we have seen numerous tenants get themselves into trouble by failing to properly address their termination. Please remember to deliver your home in the same condition it was in prior to your tenancy.Upon the termination or expiration of a commercial lease, the tenant surrenders the leased spaced to the landlord. Please also note the replace/repair cost(s) for items you leave in disarray. Your Security Deposit will be mailed within 30 days of your move-out inspection to the address you provide Landlord (if no new address is given, any remaining Security Deposit money will be mailed to the current mailing address and the Post Office will be responsible for forwarding any/all mail to your new listed address). If additional money is needed to restore said home, Landlord will send Tenant a bill and/or file legal suit for said money in court. Any and all repairs, repainting, trash removal, cleaning, and/or any other expenses that are attributed to restoring your home to its condition prior to your tenancy will be deducted from your Security Deposit. _ Make landlord aware of any damage or issues inside the rental unitĪll of the aforementioned items need to be done PRIOR to your move-out inspection so that you can RECEIVE YOUR FULL SECURITY DEPOSIT BACK (less any withholding from earlier tenancy). ![]()
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