Apr
01
Leasing retail property question?
By
I am looking into starting my business, and I have a question. I’m sure it probably is different from place to place, but when a rental property says this…
“Rental Rate: $10 /SF/Year”
I get that it is $10,00 a square foot, BUT it says “year”, does that mean that they would want a years payment up front, rather then say an apartment which is a 2 months up front?
Thanks!
Sell House Quick
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3 Comments
April 3rd, 2010 at 4:03 pm
You need to ask the landlord to look at a proposed lease. It would generally be for a year and payable in monthly installments. You also need to ask if the rent includes utilities and other things like prorated taxes. It would be a good idea to contact SCORE which provides free advice for small business entrepreneurs. Check on line for a SCORE office in your area.
April 4th, 2010 at 6:46 am
no; just that he will want a year’s lease. NO leasor would ever ask for rent a year in advance.
however, if you are secure in what you are renting and want a good discount, you can offer
[after he gives you his monthly rate], him 70% of the total –thus, a 30% discount, for
payment in advance!
available to guide further
April 7th, 2010 at 6:31 pm
Probably not. $10 is the annual rental amount per square foot. The landlord may require any amount up front, it depends on the landlord and whether they think you are a creditworthy tenant.