Structure and Content of a Lease Flashcards
What is a full repairing and insuring (FRI) lease?
An FRI lease requires the tenant to be responsible for the costs of repairing/insuring the premises.
What is the doctrine of waste?
Landlord concern - the tenant cannot carry out alterations which reduce the value of the premises, its marketability, value as security for lending purposes.
Are external/structural alterations likely to be an absolute/qualified or fully qualified covenant?
Probably absolute covenants.
What is the procedure that a tenant may attempt to rely on when carrying out works that would be improvements but that which go against an absolute covenant?
-The tenant serves a notice on the landlord;
-the landlord has 3 months to object or to offer to carry out the works
-if the landlord does not respond within 3 months, T may proceed with the works
-if the landlord objects, T may apply to the court for an order authorising improvements
When will a qualified covenant be converted to a fully qualified covenant?
A qualified covenant will be converted to a fully qualified covenant if the tenant’s proposed alterations are improvements from the tenant’s POV.
What is the difference between a full repairing obligation and a qualified repairing obligation?
A full repairing obligation is an obligation “to keep the premises in repair” but extends to putting the premises into repair if they are not.
A qualified repairing obligation limits the tenant’s repairing obligation to keeping the premises in the same state of repair as at the beginning of the lease term.
What is the difference between a full repairing obligation and a qualified repairing obligation?
A full repairing obligation is an obligation “to keep the premises in repair” but extends to putting the premises into repair if they are not.
A qualified repairing obligation limits the tenant’s repairing obligation to keeping the premises in the same state of repair as at the beginning of the lease term.
