Hello
I have just turned down my $450 per week rent that I was so happy about.
The tenant left everything to the last minute, then basically demanded that he wanted a comercial tenancy agreement over a residential house, after we explicitly told them it was residential only.
I do not know anything about comercial tenancy, and he wanted a 2 year lease with 2, 2 year options (6 years total). The length of time did not bother me, the longer the better. The point that worried me was, I know nothing of the rules and regulations of commercial property, thoughts of wheelchair access, fire sprinklers, and unisex toilets wizzed through my head. Also the fact that if a tenant plays up to much or makes life dificult with unreasonable demands you reserve the right (in most cases) to not renew the lease, wheras in comercial property I have no idea what the rules are. Not to mention the tax implications, and possible personal liability issues. Im sure there is a very valid reason why commercial property gets double the rent of the same standard accommodation in residential gets.
Anyway the decision was made, and the property manager and I were both told to shove it, and promptly hung up on . Solicitors are such a lovely bunch of people especially when they can't get what they wan't.
I would like to know if the decision I made was the right one, from people who know the differences between residential and commercial leases.
I have just turned down my $450 per week rent that I was so happy about.
The tenant left everything to the last minute, then basically demanded that he wanted a comercial tenancy agreement over a residential house, after we explicitly told them it was residential only.
I do not know anything about comercial tenancy, and he wanted a 2 year lease with 2, 2 year options (6 years total). The length of time did not bother me, the longer the better. The point that worried me was, I know nothing of the rules and regulations of commercial property, thoughts of wheelchair access, fire sprinklers, and unisex toilets wizzed through my head. Also the fact that if a tenant plays up to much or makes life dificult with unreasonable demands you reserve the right (in most cases) to not renew the lease, wheras in comercial property I have no idea what the rules are. Not to mention the tax implications, and possible personal liability issues. Im sure there is a very valid reason why commercial property gets double the rent of the same standard accommodation in residential gets.
Anyway the decision was made, and the property manager and I were both told to shove it, and promptly hung up on . Solicitors are such a lovely bunch of people especially when they can't get what they wan't.
I would like to know if the decision I made was the right one, from people who know the differences between residential and commercial leases.