Home – New Forums Starting your journey Commercial lease advice please Reply To: Commercial lease advice please

#1091104
guppy1
Member
  • Total posts: 9
Up
0
::

> Our family owns 12 small Commercial Properties

> Small business will usually sign a 1 year lease with 1 or 2 year “options” after that. The options give the tenant the ability to stay on if the business goes well.
> for larger Retail and Industrial premises the Estate agent will ask for 3-5 year Leases. Again the tenant may ask for “options” after that .
> all “outgoings” ( insurance, council rates, electricity, body corporate, water etc) are paid by the Tenant. This is common industry practice.
> small business willing to sign for 2 years, we will usually give 1 months rent free to help them settle in. I have given 2 months , but that was for 3 year lease.
> we just negotiated with one tenant 50% costs, to improve and extend existing office space. Other improvements can also be negotiated.
> your can download REIV commercial lease on the internet.
> We have never used any ” amortisation ” method discussed in your “links” to get back any original negotiation costs..
> annual rent increases usually based on CPI index.
> Retail premise with dwelling depends on Council Zoning. A lot of people illegally live on the premise and council fines will apply. Illegal dwellings will also affect your public liability insurance.
Hope that helps. Richard.