Full Repairing and Insuring Lease FRI
A Full Repairing and Insuring Lease (FRI lease) is usually a commercial lease where the landlord has no repair or insurance liability and as such it lies on the leaseholder. An FRI ma also be referred to as a repairing covenant or as a repairing duty, which transfers the legal obligation for repair of part or all of a building to the tenant. In comparison to this an Internal Repairing Insuring lease (or IRI lease) is where the tenant has a narrower liability for maintenance, decorations, repairs and insurance which is confined to the internal parts of the property that they occupy.
[edit] Related articles on Designing Buildings
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- Leasehold covenants.
- Liens.
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- PAS 2035.
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