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.
Utah Provision Allocation Risks and Setting Forth Insurance Obligations of Both the Landlord and the Tenant
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FAQ
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.
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 Fit Premises Act is the Utah law that governs housing conditions. Under this law, a landlord must provide safe and livable housing. This means the landlord must rent housing that is up to code.
Use Clauses This clause defines how the tenant can and can't use the property they're leasing. The use clause may be very specific, so it's important that you read its terms carefully.
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 ...
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.
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.
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).