Advisable Provisions For A Showroom Lease Agreement ( Retail )
Can anyone please offer some advisable provisions to include in a commercial (retail) lease agreement, that I am presently having a lawyer devise: I am the tenant.
It is a large showroom that I have had to make extensive aesthetic modifications to. We have negoitiated a forestall of rent for 90 days, on account of this. The property location itself makes it prime real estate and is well sought after.
Beyond the conventional provisions that are made in such contracts, what additional clauses can I insert to protect my hind?
This property is located in a coastal region of Spain, but all the same any universal provisions that anyone can offer can be made pertinent to this lease by my useful little lawyer.
While I have no specific advice as to your lease, I would suggest that you post this in the commercial forum- you might get some response over there...
Chris
are you an American doing bus. in Spain? They must have changed the Law. Do you have a permit to do business in Spain? If you are a member of the ECC you do not need one. I assume you have checked all of these ligalities before you sign a Commercial Lease. Is your Attorney here or there? Just make sure the improvements you make the owner will allow you to leave all in place at the end of the Lease, rather than having you tear everything down, excluding furnishings that you have the right to remove or leave in place.
LaVon
Major bummer. You might call Chris McIntosh @ (509) 927-3326 for ideas/leads. He heads up the REIA in Spokane.
Brian
So LaVon
What happened??
What more can you ask for? You have a chance to help somebody that really needs it and an income from it. Do your due diligence and GO FOR IT and getitqwik.
Guaranteed rent for a year & you have the chance to help people (in need) out...sounds like a win,win situation.
Do an inspection every 30-45 days (include in your lease) if it will make you feel better. That way if needed you can evict sooner than later.
So now that it has been 8 months since the huricane. What are your experiences??
My lease says that the security deposit will be returned to all tenants. So I write the one check made payable to tenant1, tenant2 & tenant3. It is there problem to cash the check and divide up the check. You do not want to get involved in all of that.
We always treat multiple tenants as one entity. One rent check, one deposit check. How they work this out between them is up to them. And we spell this out in the lease. Any changes in tenancy, if we agree, require an application from all new occupants and a new lease signed by all.
Jim[ Edited by jimandlacy on Date 05/17/2006 ]
On the top left of your screen there is a maroon bar and a hardhat with "commerical". Click on that and head over tho the commerical forum.
Jim
Thanks Jim, I just found it.
It seems to me that commercial is a logical progression for residential investors to think about. Is there a general thought about commercial versus residential landlording? Are commercial tenants more of a hassle, less of a hassle, better or worse in any ways?