The hallmark of a lease is that, in return for paying rent, a tenant gets exclusive possession of its leased premises. So, if a tenant is entitled to exclusive possession, absent a specific lease provision, by what right does its landlord get to show the leased premises to prospective buyers or tenants? The answer to that question got mangled by a trial court and an appellate court in Iowa, only to be properly reached by the Supreme Court of Iowa. Or, so Ruminations thinks and a disappointed tenant does not.
It is best to start with the “central” lease provision facing all three courts. Here it is. Read it carefully because it “looks” OK at first blush, but smart, experienced leasing professionals will quickly identify the deficiency that sent an anxious landlord and its anxious tenant to three courts at commensurate expense and with a likely sense of angst. This was the last part of an article labeled: “SIGNS”: [Read more…]