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VPS / HOLLYWOOD STUDIO RENTAL LANDLORD TERMS
WE are Studio Rentals and Cartage Inc. dba Valley Production Storage, Hollywood Studio Rentals, and Drum Paradise. When we operate a storage facility, we essentially act as a landlord and our customers – the people who store their personal property – are our tenants. We refer to our agreement as a lease. We have responsibility to our tenants. This may include reasonable security measures such as fences, lighting, gated access, video surveillance, alarms and armed security response.

LIABILITY FOR THEFT OF STORED ITEMS
If we provide reasonable security features that function properly, and are not negligent, then we are not responsible, nor liable, for theft, lost or missing items. You have unsupervised access. We do not document your property coming and going from your personal storage, by you, or by other parties to whom you have given access.  If there is a claim, carrying your own insurance is the best protection, and we require tenants to insure their own property. In the rare event of a disputed claim, a neutral Arbitrator will decide liability.

RENTAL SPACE AGREEMENT
When we agree to rent space to a music equipment storage tenant, we have requirements to which you are to adhere, and are in a written lease to be signed by the parties to the lease. Requirements include, but are not limited to, limits on the value of property a tenant can store in one of our spaces. We also require tenants to insure their own belongings. Check with your insurance agent regarding your coverage by your homeowners or renters insurance policies.

STORAGE LEASE BASICS
We begin with information that identifies the parties to the lease, the facility and the duration of the lease. We specify any security deposit, the monthly rent, and penalties for late or rejected payments. Tenants’ insurance is a critically key component of the full lease agreement, and our contract specifies what insurance each party is to maintain. Also, who, if anyone, is allowed on or in the storage premises, access hours, and fees.

COMMERCIAL PROPERTY INSURANCE
We carry Commercial Insurance tailored to the needs of our business, i.e., Studio Rentals and Cartage Inc. dba Valley Production Storage, Hollywood Studio Rentals, and Drum Paradise. We require our tenants to carry property insurance to cover the stored items of the parties to the lease. Our insurance coverage in the lease specifies that loss coverage is confined to losses that occurred while in transit, or because of damage to the building. Our lease, and our insurance policy, does NOT cover lost, missing, stolen, or mysteriously disappeared property and items, while in storage.
Here is a summary of our commercial policy limits: Each Occurrence - $1,000,000; Damage to Rented Premises - $300,000; Medical Expenses to any one person - $15,000; Personal and Advertising injury - $1,000,000; General Aggregate Limit - $2,000,000 (other than products-completed operations); Products - $2,000,000. Commercial Property Insurance may also provide protection in the event of damage to our business property.

COMMERCIAL AUTO INSURANCE
Business vehicles are covered by our Commercial auto insurance. This protects Studio Rentals and Cartage Inc., and our clients, when our employee is covered in the event of an accident, or if the vehicle is vandalized or stolen.

PROTECTIONS FOR THE PROPERTY OWNER
We include clauses in our lease to protect our business from liability. This may require our tenants assume risk of loss or injury to themselves, their guests, and their personal property. The tenant should acknowledge his inspection of the premises and that it was found safe and adequate for intended purpose. The lease can include details such as whether the tenant may allow third parties into their storage. The tenant agrees that tenant, and guests, sign a release of liability from damages or injuries to others, while on the premises.

Our lease requires tenants to carry property insurance to cover the stored property. Insurance clauses in the lease specify that loss coverage is confined to losses that occurred while in transit, or because of damage to building. Again, lost, missing, stolen, or property and items that have mysteriously disappeared while in storage, are NOT covered.

THANK YOU!