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Pretty much Daz. It's the same lease as last time (as stipulated in that lease - no changes to be made with the exception of market increase). His PM sent me out the paper work with the details to forward on to the LL's solicitor to finalise. Still waiting on his solicitor to send me a copy...

Thanks for that insight Pom, I'll definitely keep that in mind for next time when a new lease needs to be drawn up. I do see what you mean about the option. Next time I'll try and get something in the lease about market review etc. - but again, the balls is still firmly in his court. He...

Thanks Daz! :) Just glad it's all over and behind me now, I don't like unresolved issues.

Update Finally received the LL's response to my offer! He originally sought a 21% increase. I counter offered with 10%. He has now come back with 17%. Not as great as I'd hoped, but I'm still happy with this, and will accept it. Took a while, but a pretty nice saving for writing a few...

I'm glad you used the Boxing doll analogy as opposed to some other inflatable devices that could represent me, and what would be done! :D Problem is, once your established in a location, it makes it much harder for commercial tenants to move. Especially when the area becomes 'up market'...

Thanks Daz! :p It's ok, I've prepared myself for the process. Just want to get it over with so I can pick myself up and move on! Well, that is until it happens again ;)

Still waiting for a reply on my offer. Was growing concerned last week as it had been a month since I sent the letter off to the agent. Called her and she just said to me 'hmmm yeah you're right, it has been a while. We sent the offer to the LL and haven't heard back. I guess it's been long...

Never thought of that one before GoAnna. Would still like to avoid sub-letting if possible. I think I mentioned, we still use it occasionally one morning a week for a couple hours, so would make that awkward. I do have one of my suppliers who is interested in renting it out by the hour for a...

Peter, No, I've looked into sub-letting the upstairs in the past, but am not comfortable in doing it for a few reasons.

Thought I'd post an update. Earlier this week received the letter from LL's agent stating the new required rental would be a figure starting at 21% above current rate (and the yearly 5% increases as usual). Yesterday I sent off a letter proposing a 10% increase instead. With previous...

Hi Raddles, thanks for the idea. I can defintiely counter offer, but in the end it comes down to him getting what he wants. If he doesn't like what I propose he can refuse - end of story. I'm aware of what rents are generally, so a valuer couldn't tell me too much I don't know. It's just a...

Yeah I know I'm at his mercy Daz, always has been like that. GoAnna just had me wondering about the actual wording of the lease. He bought the place around 50 odd years ago or so. Bought a couple others as well. At the time the council went around to all the local shop owners and asked if...

Had a read through my lease. Most of it is stipulating what I can and can't do, and what is required of me - no wonder you love the commercial leases Daz! ;) In the lease it has: Item 62. Extension. The the Lessor shall upon written request of the Lessee made not later than three months...

Thanks GoAnna, will get on it tonight. Not sure what exactly it will have in it, from memory it wasn't a huge document. I'm not sure if it would specify what happens at the end of it - as it basically is the end of that lease, and just gives me an option at the end of it. Now I have to negotiate...

Thanks for that Daz, great stuff! I don't think I would do the low ball offer myself. That was back in the day when it was my mum negotiating it directly with the LL. He always liked her, so made things a bit friendlier even when they were trying to gouge each other. I believe I have a...

Good question Anna, I honestly don't know! :confused: My lease is at home locked up, so I must dig it out and have a look tonight. I do however know from past experience, in the end, if you can't come to an agreement he'll show you the door. Perhaps this is not legal anymore? I will see what...

Thanks for that Giulio. Problem is on the commercial side of the fence we look at a lot more of a rise than the residential increase of $10-20pw. If only! :o

Raddles, yes there is a market review. The LL's agent will tell him what similar rents in the area are, and they will send me a letter saying what they want for the new lease. Then I have the choice of either agreeing or putting a counter offer to them if I believe it to be excessive. If that...

Nice Daz! :p We would have loved to have bought the building we are in when the landlord offered it to us years back (consisting of my shop, and one behind me), but we were'nt in a position to. He offered it to us around 10yrs ago for $950k, then 5yrs ago for $1.2M - I would have loved...

Hi all, I'm about to renew the lease on my current business premises, so thought I'd keep a thread of it going in case people can offer me advice along the way. One things for sure - it's not as nice to be on this side of a property compared to where I usually sit! Brief background is...