What happens if there is damage or destruction of the leased premises?

If the leased premises are damaged as a result of a loss, the lease should provide for different alternatives depending on whether the loss has partially, substantially or totally damaged or destroyed the building. Depending on the type of service, business or building, the parties will have to agree on a time limit in the commercial lease for the lessor to notify the lessee whether or not to repair the leased premises or rebuild the building.