Hidden Fees and Charges, Wear and Tear, Maintenance and Repair Clauses in Leasing Contracts

This Skill Bit talks about the hidden fees in leasing contracts, such as early termination or excess mileage charges, which can lead to unexpected costs, making it essential for lessees to thoroughly review and negotiate terms to avoid surprises. Additionally, reasonable wear and tear clauses define acceptable damage levels, while clear maintenance and repair clauses specify the roles of both lessors and lessees in property upkeep. Well-defined responsibilities and regular inspections help prevent disputes, ensuring proper property maintenance and a smooth leasing experience.

Duration approx. 7 Min.

Tier: proficiency

A part of Managing Leasing Contracts course.