What is an IRI (Internal Repairing and Insuring) lease?
Internal Repairing and Insuring (IRI) lease means leasing a building where you only need to pay for the maintenance and repair costs of the internal parts of the properties, while your landlord will look after the exterior parts of the building. For example, if there are any defects in your exterior walls, your landlord will be there to fix them immediately. Find out more about our lease specifications on our Smart Lease or traditional lease. Our leases are typically IRI leases, but it will depend on the unit you’re leasing. In rare circumstances, they may be leased on an FRI lease basis.