Reading the fine print of a contract between a landlord and tenant is always important, but adding special language to a lease can help decrease the risk of litigation after damage caused by a hurricane.
That's according to Marko Cerenko of Kluger, Kaplan, Silverman, Katzen & Levine in Miami, who said a lease must specify who is responsible for procuring and maintaining the property or casualty insurance.
"For example, is it going to be full replacement value or a lesser amount? Also, the specific coverages to be provided under such insurance. That in itself is the first step," Cerenko said.
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Melea VanOstrand
Melea VanOstrand oversees the Daily Business Review as ALM's Florida Bureau Chief. Email Melea at [email protected] or follow her on her Twitter or Facebook pages.
