Experienced residential landlord but Newbie to commercial – Request for helpMake Text Bigger
Having been letting flats above shops I have now for the first time been asked to let the shop underneath one!
I have gleaned from the web that shops are generally let on 15 year self repairing leases and that normally a solicitor draws that side of the business up, but from a letting point of view does it follow the same process, i.e
1. Advertise ( Obviously or you would not have a tenant – but what do you charge for the let, price per square foot for the annual rent etc etc)
2. Referencing – Individuals or companies or both?
3. Lease – At what point do you pass it all over to the solicitor? When does my job finish and his starts?
4. Inventories- Do you have to do one and in what detail?
5. Rent Insurance Guarantee – is there such a thing for commercial / retail properties?
6. Does each party pay for their own legals or does the lessee pay for the Landlords?
All and any advice gratefully received.
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