Is there something like a law that says a tenant, at the end of a lease’s term, has to surrender the leased space in the same condition as it was at the start of the term? Does a common legal stationer’s form’s rendering of this requirement, “return the Rental Space to the Landlord in the same condition as it was at the beginning of the Term except for normal wear and tear,” have a single meaning, one that everyone would agree-upon once the space was inspected post-departure?
Before we deconstruct the word “condition” as used in the described context, Ruminations will look at the broader question – “In what condition should a tenant yield up the physical space it is vacating?” We think that question cannot be answered in the abstract. What’s the business deal? [Read more...]