Draft Detailed Default Clause to Protect Interests in Event of Owner's Lease Violation
Conscientious shopping center and office building tenants should be aware of the responsibilities they agreed to in their leases and make every effort to stick to them. But don’t hyperfocus during negotiations on your end of the bargain; make sure that if the owner doesn’t also live up to its obligations, you’ll have some recourse. How can you protect yourself? Try to negotiate language into the lease that spells out what events will be considered owner defaults and what remedies you’ll get if an owner defaults.