Dec
26
help me! when we tranfer a retail space lease,what are important things we look for?
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I am a landlord of a retail space and would like to buy out my tentants lease out they have 20 months left? Would three months rent be enough to buy them out. ThanksRepossession ...
Trying to lease a small retail space and I have some questions? OK, I’m doing my research to see if I can start my own little business. The biggest unknown area for me is the leasing of a small commercial space. Can anyone point me to some resources on the web where I can find out what’s the average lease rate...
I am considering opening a coin laudrymat. I am currently looking for retail space to lease? Does anyone have any good insight to how much is really involved with getting this thing up and running? Any advise on things to look for and things to avoid? Is it better to purchase or lease the equipement? Thanks for any help!Quick Property Sale ...
I rented a retail space that had mold before we signed the lease? Knowing about mold and causes, it was put in the lease agreement that all mold would be removed. After they “treated it” we had a mold specialist come out and take a sample and there is still mold. They said they feel they treated it correctly, which we knew...
how to lease commercialy approved retail space for subhiksha store to be operated by company itself? if i have retail space to offer for lease to open subhiksha outlet on prime commercial approved area at Ramesh Nagar, New Delhi-110015, How can I do it?Repossession ...
2 Comments
December 28th, 2009 at 1:48 pm
Since you have no experience doing, the first VERY important thing I would be looking for is an experienced lawyer to make sure all the documentation is done correctly!!!
December 29th, 2009 at 12:03 am
The least agreement was made between the previous tenant and the landlord. You will be taking over that lease. Whatever agreements are in that lease, you will be accepting. If you are unable to pay the lease for any reason, you cannot walk away before the end of the lease.
There should be special requirements in the lease. Such as: insurance type and amount you must have, penalties for late pays, common area maintenance fees, the use or type of business you can conduct there, and possibly the hours or days of the week you must be open.
Many, many, many, things in the commercial lease, and it is a legal document. Best suggestion would be to find an attorney you trust to review the lease, and only after you have their advise should you proceed.
Sounds like this is a new venture for you, so best of luck to you!