Lack of Maintenance, Repair and Termination Provisions in Leasing Contracts

Description

This Skill Bit shows that clear maintenance and repair provisions in leasing contracts prevent disputes by defining routine maintenance tasks, repair responsibilities, and procedures. Properly outlined terms ensure both parties understand their obligations. Clear termination provisions in leasing contracts are vital for managing early lease terminations. They should specify conditions, notice requirements, procedures, and consequences to ensure both parties understand their rights and obligations.

Duration approx. 5 Min.

Tier: advanced