Are you in the process of negotiating a commercial lease agreement? If so, you may have come across the term „common facilities agreement“. This type of agreement is a vital part of any commercial lease agreement and outlines the shared spaces and services that all tenants have access to within a building.
Common facilities agreements typically cover facilities such as lobbies, hallways, elevators, restrooms, and parking lots. These spaces are crucial to the overall functionality and operation of the building, and it is the landlord`s responsibility to maintain and manage them.
The agreement will also outline the responsibilities of each tenant with regards to the common facilities. For example, it may state that tenants must keep the common areas clean and tidy, or that they must report any damages or maintenance issues promptly.
One important aspect of a common facilities agreement is the allocation of costs. The agreement will typically state how the costs of maintaining and managing the common facilities will be shared amongst the tenants. This may be based on a variety of factors, such as the size of the tenant`s leased space or the amount of foot traffic they generate in common areas.
Another key consideration when negotiating a common facilities agreement is the level of access each tenant has to the facilities. It is important that all tenants have equal access to the shared spaces and services outlined in the agreement. This can help to ensure that all tenants feel valued and included in the building community.
Overall, a well-written common facilities agreement is an essential component of any commercial lease agreement. By clearly outlining the shared spaces and services available to tenants, as well as the associated costs and responsibilities, the agreement can help to prevent disputes and ensure the smooth operation of the building.