Fairness v. Realty
I was looking over a lease for a client last week. Mind you it was a commercial transaction. My client, the Tenant, had attached a note to the section that deals with indemnity and release of liability. “This is not fair to me”, was written on the note. He had not consulted an attorney as I had advised.
Every Lease Form I’ve ever looked at, the Tenant releases the Landlord for everything from the Great Brinks Robbery to anything that occurs on the property. With the exception of acts of Gross Negligence on the part of the Landlord.
When I first got started, I questioned the release of liability and the other Broker’s response was; …”are you trying to kill this deal ? you better learn some things aren’t negotiable you dumb a**… LESSON LEARNED.
As I told my client, no, this section of the lease is not fair to you. There are some things in the real world we can’t negotiate away. This is one of those times. All you can do is evaluate the building, landlord and your cost/benefit of the deal. It boils down to how bad do you want the lease.
Comments (2)
Well,Jon,that broker taught me a lesson I never forgot.
Mike Morrison, over 14 years ago
The landlord's broker sounds like a joy to work with.
Jon Klaus, over 14 years ago