This office lease provision states that the parties desire to allocate certain risks of personal injury, bodily injury or property damage, and risks of loss of real or personal property by reason of fire, explosion or other casualty, and to provide for the responsibility for insuring those risks permitted by law.
Indiana Provision Allocation Risks and Setting Forth Insurance Obligations of Both the Landlord and the Tenant
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FAQ
Flexible expenses (often called variable expenses in accounting) are those that fluctuate month over month, like groceries, dining out, or entertainment. Both types of expenses need to be accounted for.
Notice is not required to terminate a lease in the following situations: (1) The landlord agrees to rent the premises to the tenant for a specified period of time. (2) The time for the determination of the tenancy is specified in the contract. (3) A tenant at will commits waste.
The definition of fixed expenses is ?any expense that does not change from period to period," such as mortgage or rent payments, utility bills, and loan payments. The amounts may vary slightly, which may be the case with utilities, but you know they are due on a regular basis.
Fixed expenses generally cost the same amount each month (such as rent, mortgage payments, or car payments), while variable expenses change from month to month (dining out, medical expenses, groceries, or anything you buy from a store).
IC 32-31-8-5Landlord obligations 5. A landlord shall do the following: (1) Deliver the rental premises to a tenant in compliance with the rental agreement, and in a safe, clean, and habitable condition. (2) Comply with all health and housing codes applicable to the rental premises.
Signing a lease provides both landlords and tenants with clear terms and conditions outlining the relationship and the rental agreement. Doing so also establishes the rights and responsibilities of each party involved.
The rule of subrogation known as the ?Sutton Rule? states that a tenant and landlord are automatically considered ?co-insureds? under a fire insurance policy as a matter of law and, therefore, the insurer of the landlord who pays for the fire damage caused by the negligence of a tenant may not sue the tenant in ...
Typical expenses when renting an apartment include an application fee, renter's insurance, a security deposit (usually equal to one month of rent), a pet deposit, and utilities, among other costs.