Archive for Rent
May
24
Can a commercial property lease be broken if my new business fails?
Posted by: | Comments
Im curently looking to rent out a new small shop for my business they are wanting me to sign up for a three year lease which seems the norm. What is worrying me though is if my new venture should fail i will be stuck tied into this lease.
My question is that should my business fail will i still be responsible for paying the lease for the rest of the agreed term?
Would i better off setting up as a limited company to avoid this pitfall if things turn worse in this economic climate and my business fails.
Thankyou
Quick Property Sale
Nov
20
Oct
13
What are my rights as a tennant? Commercial bldg?
Posted by: | Comments
I have been paying my wifes grandpa a well below market (his choice) rent for over 6 yrs. He just passed and now the survivors of the property (his kids) want to raise my rent by 500%… Myself and the Gpa never had a written lease agreement, he just told me what to pay each month and I sent him a check. Am I entiltled to 30 day written notice, and the 30 day eviction notice.. What are my legal rights. This is getting messy, and I hate to have to do this with my wifes family, but my company has budgeted $ xxx only for the 2007 year, and cannot swing the HUGE increase of rent.
HELP PLEASE.
Thanks
PS—- If my father in law owns half of the property, can he file for a partition of property, (can she refuse, and force sale).
I would like to possibly buy this property, but they refuse to get a certified commercial appraiser- Which I beleive is neccessary, instead the othe 50%owner has a real estate agent bragging about how much rent she could get for this place.$$$$ This is in Michigan
Quick House Sale
Oct
07
How can I terminate a commercial lease w/o paying future rent?
Posted by: | Comments
Our 5 yr lease turned out too expensive. There is a 50% buyout clause if exercised in the first 3 yrs. (just ended yr 2). Business partner’s personal financial situation changed for the worst and has NO money to pay the buyout. We have personal guarantees on the lease & “jointly and severally” (my least favorite phrase) signed. Any hope to terminate with out paying? What should I double check for in the lease?
The business has been for sale for @ 6 mos. at a drastically reduced price…just to walk away w/o owing anything. No subletters willing to pay the full amount (or even close!)
Repossession
Aug
18
I had a shop for 9 mths without signing the lease, am i still liable for anything?
Posted by: | Comments
the landlord says im liable for the lease even though i didnt sign anything
im not stiffing anyone he’s trying to wangle money out of me, i didnt make any profit which is why i closed down
he’s trying to make me liable for £10,000 for an 8 yr lease
i paid him £100 a week rent for 9 mths!
for wiseolddude….i didnt not offer to pay, ive paid enough, i think my ethics are well and truly fine.
Quick Property Sale
Jul
31
Landlord tries to get rent from you on a shop premises where the lease has been assigned to a new tenant and the new tenant has failed to pay the rent and left the premises. Anyone had any experience of this?
Sell and Rent Back
May
14
I own a business but rent the building and also live in the building. I need to buy the building. I have been here 4 years with a growing bsiness. It also has a rental trailer on the property for income. I need a mortgage lender to help me finance it.
Passive Income
Mar
04
Dec
23
what happnes when a shop lease runs out?
Posted by: | Comments
Ive found a shop but lease ends march 2009. Does the lease then renew can rent rise drematically and catch me out? Ive had a lease before but was 999year lease so never had to worry- that though was on my flat not a commercial property which id imagne all have short leases. Unlikely but what would happen if I left early before the lease ended. I wont own the shop just rent
2nd question
My sister owns her shop but has a lease of 7 years or something if she sells when a lease only has say 2 years less would the shop value go down. She bought it for 80,000 just last year but would like to relocate?
Sorry I dont understand it all!! Please could make it obvious what question you are answering, cat xx
Quick Property Sale
Dec
21
What are the consequences of breaking a lease in NJ?
Posted by: | Comments
I found a place with a yard, deck,etc for the same rent need to break my 2 yr lease the place I live in now has no place to go outside is in town near shops,etc also…no fire escape or second egress for emergency exit
Repossession
