We are looking at a property on the market for $1 million. It is returning $115k a year.
3 yearly rent reviews. Building was built in 1900.
All outgoings, including internal and external maintenance are paid for by the tenant.
There is only one tenant and they have a 10 year lease from 2003 with two 5 year right of renewals.
The tenant is a pub and restaurant type establishment. The figures are good - is this type of tenant high risk?
Are there any other hidden dangers anyone could possibly advise of?
Thanks!
3 yearly rent reviews. Building was built in 1900.
All outgoings, including internal and external maintenance are paid for by the tenant.
There is only one tenant and they have a 10 year lease from 2003 with two 5 year right of renewals.
The tenant is a pub and restaurant type establishment. The figures are good - is this type of tenant high risk?
Are there any other hidden dangers anyone could possibly advise of?
Thanks!