Nordicum - Real Estate Annual Finland 2012 | Page 51

by choosing the right lighting solutions. An
eco-efficient choice may, however, be more
expensive than other alternatives. Furthermore, customary Finnish commercial leases do not allow the tenant to carry out repairs or alterations on the premises without
the lessor’s permission, including repairs or
alterations that would improve the energyefficiency of the building. A shared responsibility for the maintenance costs will, on
its part, direct the choices made by the lessor and the tenant when investing in repairs
and alterations as well.
If the lease agreement provides that the
building must fulfill the requirements for an
environmental certificate, it should be clearly defined how the responsibility and costs
generated thereby are allocated between the
lessor and the tenant. The lessor is primarily
liable for these if the fulfillment of certification requirements are included in the agreed
condition requirements of the leased prem-

ises. Such a provision, however, may prove
risky for the lessor since the tenant has under law the right to terminate the lease if the
premises are not maintained in the agreed
condition. I have not yet seen such provisions included in Finnish lease agreements.
In addition to allocating the maintenance costs of the leased premises as well
as repairs and alterations, a green lease may
also include other provisions that affect the
eco-efficiency of the building and leased
premises. The lease agreement may, for example, include provisions r