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cafe_guy
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NickKaro, post: 222127, member: 12942 wrote:
5 + 5 means it is a 5 year lease with an option for an additional 5 years (generally you will need to exercise the option within a few months of the end of the initial 5 year lease). You can always pack up and walk away at the end of the 5 year period, but it provides some certainty that you will have the lease for at least X period of time if you exercise the option.

3 x 3 is similar, except you have an option for an additional 3 years by the end of year 3 and then year 6.

For my clients we generally attempt to negotiate as many options as possible to provide certainty that the goodwill built up and expense being put into the place is worthwhile.

Regards
Nick

Thanks for the info. 5 years sounds way too long, but I can see why landlords would push for longer periods.

chopesandbro who exactly wants your earnings info? And yes you’re right there seem to be plenty of businesses, in my case cafes, up for sale, many of them claiming urgency in the sale.. I’m wondering how many are legit, and also how many of the urgent sales are for ‘family reasons’ as they claim :)