Puerto Rico Checklist of Matters to be Considered in Drafting a Lease of a Commercial Building: 1. Introduction to Puerto Rico's Commercial Leasing Laws: — Overview of Puerto Rico's legal framework for commercial leasing — Explanation of key statutes, regulations, and legal requirements 2. Lease Term and Rental Payments: — Determining the lease term, including start and end dates — Specifying the frequency and method of rental payments — Discussing any rent escalations or adjustments 3. Description of the Premises: — Providing a detailed description of the commercial building and its physical attributes — Outlining any shared areas, parking spaces, or common facilities 4. Permitted Use and Restrictions: — Clearly defining the permitted use of the premises — Listing any specific restrictions or prohibitions on certain activities or business types 5. Maintenance and Repairs: — Allocating responsibilities for maintenance and repairs between the landlord and tenant — Determining who is responsible for regular upkeep, repairs, and major building systems 6. Security Deposits and Guarantees: — Discussing the requirement and amount of a security deposit — Explaining any options for providing a guarantee or alternative form of security 7. Insurance and Indemnification: — Outlining the insurance requirements for the tenant — Addressing the tenant's obligation to indemnify the landlord for any liabilities or damages 8. Assignment and Subletting: — Determining the tenant's rights to assign or sublet the premises — Establishing any conditions or restrictions on assignment or subletting 9. Termination and Renewal: — Describing the process for terminating the lease agreement — Discussing options for renewal or extension of the lease term 10. Dispute Resolution and Governing Law: — Specifying the preferred method of dispute resolution, such as mediation or arbitration — Identifying the applicable laws and jurisdiction for resolving any legal disputes Types of Puerto Rico Checklists of Matters to be Considered in Drafting a Lease of a Commercial Building: 1. Basic Checklist: — A comprehensive checklist covering all the essential matters that should be considered when drafting a lease agreement for a commercial building in Puerto Rico. 2. Specific Industry Checklist: — Industry-specific checklists tailored to businesses operating in sectors like retail, hospitality, healthcare, or manufacturing. These checklists include additional provisions related to industry-specific regulations and requirements. 3. Lease Renewal Checklist: — A checklist specifically designed to address matters pertinent to the renewal or extension of a lease agreement. 4. Assignment and Subletting Checklist: — A checklist focused on matters related to the assignment or subletting of a leased commercial building, covering the landlord's and tenant's obligations and legal requirements. 5. Dispute Resolution Checklist: — A checklist highlighting key considerations for including dispute resolution provisions in a lease agreement, including preferred methods, jurisdiction, and use of alternative dispute resolution mechanisms.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.