Whilst its not a big numbers deal I need a few ideas
Had this particular space for 10 years lease is up on the 9th December 2009.
Tenant has options which they have decided not to take up.
They have offered through their lawyer a new lease 5 years with 3x5 year options. With the rent reduced.
08/09 year was around $4800. The new lease brings this back to $3060 + 2% increase every year and market at the further periods.
The tenants lawyer will prepare the documents for a sum of $638
I would imagine there are about 400 owners who have been contacted with this letter they're not making bad money for a generic lease document.
I feel like I have been push around a bit. I think the owners should have a co op and band together but im not sure how this is formed when you don't know them?? Do I just take back the space and rent it out as I see fit?
We dont owe any money on it. We dont live in Melbourne (where it is) so I dont personally need it.
Had this particular space for 10 years lease is up on the 9th December 2009.
Tenant has options which they have decided not to take up.
They have offered through their lawyer a new lease 5 years with 3x5 year options. With the rent reduced.
08/09 year was around $4800. The new lease brings this back to $3060 + 2% increase every year and market at the further periods.
The tenants lawyer will prepare the documents for a sum of $638
I would imagine there are about 400 owners who have been contacted with this letter they're not making bad money for a generic lease document.
I feel like I have been push around a bit. I think the owners should have a co op and band together but im not sure how this is formed when you don't know them?? Do I just take back the space and rent it out as I see fit?
We dont owe any money on it. We dont live in Melbourne (where it is) so I dont personally need it.