Hi All,
This is my first post in this section. I have a friend who is running a retail businesss (he is currently leasing this place and pays approx 5K rent each month), however this shop is now small for his liking and he is looking to move out and lease a bigger shop. (approx 4 times bigger than his current place)
Situation:
He has found a new shop which is 500 mts from his current shop, however the person who is running business from the bigger shop is folding it up and moving on and is willing to transfer the lease in my friends name but he needs 150K for that (as a good will and he knows my friend is doing really well , so he is trying to make most out of it). Lease at bigger shop would be approx 14K per month
My question is how can my friend get the lease in his name without paying that high 'Good Will' amount.
Can he do this:
1> Approach the landlord or REA company who is managing the place and deal with them directly.
2> Offer incentive to landlord i.e. pay 2 years of rent upfront (that way its a win win for him, landlord and nothing goes into the pocket of person who is folding up)
3> How can my friend track the landlord directly and deal with him
Any other ideas?
Thanks in advance
Regards,
TV
This is my first post in this section. I have a friend who is running a retail businesss (he is currently leasing this place and pays approx 5K rent each month), however this shop is now small for his liking and he is looking to move out and lease a bigger shop. (approx 4 times bigger than his current place)
Situation:
He has found a new shop which is 500 mts from his current shop, however the person who is running business from the bigger shop is folding it up and moving on and is willing to transfer the lease in my friends name but he needs 150K for that (as a good will and he knows my friend is doing really well , so he is trying to make most out of it). Lease at bigger shop would be approx 14K per month
My question is how can my friend get the lease in his name without paying that high 'Good Will' amount.
Can he do this:
1> Approach the landlord or REA company who is managing the place and deal with them directly.
2> Offer incentive to landlord i.e. pay 2 years of rent upfront (that way its a win win for him, landlord and nothing goes into the pocket of person who is folding up)
3> How can my friend track the landlord directly and deal with him
Any other ideas?
Thanks in advance
Regards,
TV