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From: Phillip Monk
Hi, this is my first post here for about 9 months. In between I bought a floor of an office block for $175K on the Adelaide CBD fringe and spent $60K having it refitted. It's a mix of smaller (6x3) offices and a couple of larger (13x6) offices. I've got the larger offices let on long term leases but I've had a lot of trouble getting the shorter ones let.
The reasons for this, as I found through trial and error, are:
- agents are not really interested in letting small areas, as there's not much commission in it for them. That's all right, I've decided to do the marketing of the offices myself.
- most tenants looking for small offices also want flexibility, so they are scared to even sign a six-month lease. Most want to go monthly or at most 3-monthly.
- the cost of drawing up a single lease agreement with a lawyer is horrendous compared to the overall value of the lease
Is there anyone on the forum who has had experience letting small commercial offices on short term leases? What I'm looking for is a generic lease document which I can tailor to each individual lease. The lawyer I've been dealing with hasn't seemed to interested in helping me do this, he'd rather fleece me and the tenant $800 a time to photocopy his own lease agreement and slap a page of terms and conditions on the front which take him 1/2 an hour to type!
Cheers,
Phil.
Hi, this is my first post here for about 9 months. In between I bought a floor of an office block for $175K on the Adelaide CBD fringe and spent $60K having it refitted. It's a mix of smaller (6x3) offices and a couple of larger (13x6) offices. I've got the larger offices let on long term leases but I've had a lot of trouble getting the shorter ones let.
The reasons for this, as I found through trial and error, are:
- agents are not really interested in letting small areas, as there's not much commission in it for them. That's all right, I've decided to do the marketing of the offices myself.
- most tenants looking for small offices also want flexibility, so they are scared to even sign a six-month lease. Most want to go monthly or at most 3-monthly.
- the cost of drawing up a single lease agreement with a lawyer is horrendous compared to the overall value of the lease
Is there anyone on the forum who has had experience letting small commercial offices on short term leases? What I'm looking for is a generic lease document which I can tailor to each individual lease. The lawyer I've been dealing with hasn't seemed to interested in helping me do this, he'd rather fleece me and the tenant $800 a time to photocopy his own lease agreement and slap a page of terms and conditions on the front which take him 1/2 an hour to type!
Cheers,
Phil.
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