In part two of this two-part series, attorneys Andrew Gluck and Nicole Cuccaro discuss additional post-COVID lease considerations, including maintenance obligations, assignment and subletting, insurance coverage and lease security.
In Part I of this series, we discussed how COVID-19 had impacted almost every provision of a commercial lease, including the covenant of quiet enjoyment, continuous use provisions and force majeure clauses, among others.
In Part II, we continue our review of standard lease provisions and arrangements that should be reconsidered in light of the pandemic’s lasting effect.
As businesses around the world attempt a return to normalcy, it’s become clear that changes in our standard infrastructure will be needed. In the leasing context, landlords and tenants now need to consider and negotiate new building services in response to the pandemic. For instance, landlord and tenants will both have an incentive to make HVAC upgrades to improve ventilation, increase cleaning and janitorial services, add screening procedures and security, and modify elevators and common areas to allow for social distancing. [...]
This is an excerpt from a blog post originally written on Lowndes Leasing Lawyers. To read the entire post, click here.
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