Here are a few additional tips:
- Consult with an attorney that is licensed to practice in the state or country where the aircraft will be based. They can ensure that the lease is compliant with local laws and contain the necessary clauses to allow quick lease enforcement action if needed later.
- Consider hiring a qualified maintenance facility to perform an initial inspection and a quarterly overall inspection during the lease term. Records can then be updated should they need to be used later. Any resistance by the Lessee to allow access for inspection could alert the Lessor of trouble ahead. This facility can also manage the aircraft later in case of Lessee default.
- Make copies of the maintenance records. Loss of the original records can devalue the aircraft by as much as 30%-which could add up to millions of $$$. Previous copies would bring most of that value back.