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The keys to your business premises are more than just practical: handing them over often marks the actual transfer of use in the event of rental or sale. Properly document the moment of key handover and the condition of the premises, and act carefully to avoid disputes and liability.
Keys and the use of the space
If you use the business premises yourself, it is particularly important to keep the keys safe and not lose them. If you rent out or sell the space, handing over the keys usually marks the moment the tenant or buyer gains use — the actual delivery or transfer of possession.
The moment of transfer
When renting out, you typically hand over the keys at the start of the tenancy; in the case of a sale, at the time of delivery. That moment is important: from then on, the other party has access and the risk often transfers. Document the moment of handover and the condition of the space in a delivery report, including photos, to prevent disputes later on.
Refund at end of lease
When the tenancy ends, the tenant must return the space (and the keys) in the agreed condition. Again, hand over the premises with a report and count the keys. If keys are missing, this may affect the final settlement or the deposit.
Loss of keys and security
If keys are lost, this can pose a security risk: unauthorized persons may gain access. Determine who is responsible for loss and the cost of replacing locks. Clear agreements regarding this in the rental agreement prevent disagreements about who bears the damage.
Frequently Asked Questions
What does handing over the keys mean?
In the case of leasing or sale, it usually marks the actual transfer of use (delivery or transfer of possession), after which the risk often passes.
What do I do when returning the item at the end of the rental period?
Hand over with a report, check the condition, and count the keys. Missing keys may affect the final settlement or deposit.
Who pays for new locks if they are lost?
That depends on the agreements. Stipulate in the lease agreement who is responsible for loss and the costs of replacement.
Want to properly record your rental or purchase agreements?
Our legal experts draft or review your lease agreement and arrange the handover. View our tenancy lawteam or schedule a free consultation.
