The most common lease for renting an industrial unit is a Fully Repairing and Insuring (FRI) lease. Under this arrangement, the tenant is responsible for both the rent and the costs of maintaining and repairing the property, including structural repairs, building insurance, and property taxes. This lease provides a clear allocation of responsibilities between the landlord and tenant, ensuring transparency and accountability throughout the tenancy period. Internal Repairing and Insuring (IRI) is another type of lease. Under this lease, you are responsible for the internal repair and maintenance of the building (often including windows and doors).