Chapter 4 - § 4.10 • LANDLORD'S CHECKLIST

• Jurisdiction: Colorado

§ 4.10 • LANDLORD'S CHECKLIST

[ ] Describe the premises in words, but whenever possible include an exhibit accurately depicting the premises. If an architect did not prepare the depiction of the premises, refer to the premises as "substantially" or "more or less" depicted.

[ ] If the premises are an entire floor, make common areas that are no longer used in common part of the premises, but exclude any common areas on the floor from the premises.

[ ] If relevant for any purpose in the lease (e.g., determination of the rent or allocation of expenses, state the size of the premises (acres, square footage of land, rentable, and perhaps useable)) square feet for space in a building. Provide that the square footage stated in the lease is binding on the landlord and the tenant or provide for measurement or remeasurement, preferably by the landlord not the tenant. If the premises are being constructed as part of the lease, provide for the method of measurement, who will measure the premises, when measurement will occur, and how the measurement will be memorialized. Resist an independent measurement clause. If the lease includes an independent measurement clause, limit the period during which the tenant can conduct independent measurement, specify the measurement method, and include a rent adjustment threshold. Include a dispute resolution mechanism if the tenant has an independent measurement right.

[ ] Seek a high rent adjustment threshold.

[ ] Make sure the acceptance language in the lease and the work letter do not conflict.

[ ] Include an "as is," "where is," "with all faults" clause. If the tenant requires latent defects to be excluded from the "as is" clause, consider including the landlord's right to terminate the lease instead of having to repair the latent defect. Provide that occupancy of the premises by the tenant constitutes acceptance of the premises. Create a bright-line responsibility for repairs at the time the tenant takes occupancy and resist an inspection and punch list procedure.

[ ] Include a relocation clause. If the tenant requires the landlord to pay the tenant's relocation costs, specify which costs are to be paid and seek to exclude compensation for downtime, lost profits, and consequential losses for relocation.

[ ] Retain maximum flexibility with respect to common areas by stating common areas are those areas designated as such by the landlord. Reserve express right to make changes to common areas. State that the tenant's right to use...