Why does my leasing company (Lessor) require my landlord to sign a waiver?

The lessor’s reason for wanting a landlord waiver is to ensure that they maintain clear title to leased equipment. Most commercial property leases have a clause that stipulates that the tenant’s personal property may be seized and sold for non payment of rent. The leasing company wants to make sure that the equipment they are leasing to the tenant (lessee) does not fall into this category. The landlord typically has no problem signing a waiver as they prefer a happy tenant and understand that new equipment is essential for the continued success of most businesses. The success of a tenant and therefore the ability to pay rent is the preference of most landlords.

The Landlord Waiver addendum to an equipment lease is of even greater importance to a Lessor when the leased equipment is affixed or attached to the landlord’s property. In a typical commercial property lease, items that are attached become classified as fixtures, and thus the property of the landlord. By having the landlord sign off in advance stating that the equipment will remain the property of the Lessor simply avoids any confusion if a dispute arises.