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Landlord Liability- my new restaurant

 
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dm519

posts: 5

Jul 01, 2009 10:04 AM ET    Quote
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I am in the final leg of a lease negotiation for my restaurant, (1st timer).  I wanted protection against any damage to my restaurant that

was not caused by me.  Basically some level of landlord liability.

I am covered for structural but my gut tells me if there is a flood, a clogged pipe, etc...I should have some protection.

The LL says there are too many variables to cover & can only be covered under liability insurance.  Sorry for the long explanation, it`s the only item left to settle. 
I would appreciate any advice.
Thanks,
DM
 
nevadascul

posts: 487

Jul 01, 2009 8:29 PM ET    Quote
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Have a commercial real estate agent or attorney review any lease agreement.  The money you spend having them review the agreement is well worth it.  You can for instance, get nailed on maintenance if you don`t know then ins and outs of such an agreement.  You also need to have a landlord performance clause, lease termination, etc. 


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Goals are attainable at any age. It just seems to take longer the older we get. - S. Patrick Culshaw
mmdona

posts: 58

Jul 01, 2009 9:11 PM ET    Quote
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Also ask your insurance agent if you should be named as an additional insured on the landlord`s policy while you are verifying that your business is covered.
 
Good luck!
Molly Donaldson
aspenmunchie

posts: 1

Jul 05, 2009 11:06 AM ET    Quote
Points: 0   Vote
I totally agree with all the above feedback. An attorney will keep you out of trouble.
Having been in the restaurant biz for over 25 years, I can attest to that. I have opened
over 10 units from fast food to 4 star and everylease is a little different.

Good Luck,

DrMunchie

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