This seems like a no brainer...
Offering a lower rent
- Thread starter BayView
- Start date
This seems like a no brainer...
Plenty of ways for you to get a better outcome Bayview.
Yes, dropping the land will save $ but it won't be much because you are only paying a basic amount for land (provided there are no structures).
Are you willing to walk away from the current site (if you negotiate a better deal on the other block)?
Does the lease have a ratchet clause? (is it a commercial lease or retail)
Are you prepared to negotiate a new lease in lieu of exercising the option?
Yes, dropping the land will save $ but it won't be much because you are only paying a basic amount for land (provided there are no structures).
Are you willing to walk away from the current site (if you negotiate a better deal on the other block)?
Does the lease have a ratchet clause? (is it a commercial lease or retail)
Are you prepared to negotiate a new lease in lieu of exercising the option?
The land is $1500 per month. The building is $2500 per month.
That is a significant saving towards paying off debt, and eventually giving me more income, more funds to use for advertising, upgrading and so on..
Yes. But if I can drop the land where I am, this would be enough of a buffer to stay - no moving costs etc.
Will need to look that up.
Could be worth a try, but same rent on the building and drop the land would work (my hope is if we announce we don't want the land any longer, we will still get it anyway for free, because it is of no use to here vacant, and she will not be earning an income on it).
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BV,
I doubt you will still get to use the land for free.
Depending on accessibility, she may rent it out to someone else?
Someone might start up a Airport short term/ long term car storage.
Now that's something that has a lot of potential..you might think about that for yourself.
We used a service a couple of years ago, and the place was FULL.
Probably a lot of cash in pocket deals too.
I'm guessing you are not near an airport, but this idea was floated earlier in the thread... using this land that isn't crucial to your business as a place to rent out as storage for vans, boats etc. I know you looked at shipping containers and from memory, they cost too much to buy in order to rent them out. But would someone rent a spot on that spare block for their caravan or boat?
People rent units without the garage being part of it, and rent the garage to someone needing storage for a boat or just for general storage. Why not look at this again, maybe put an advert in the local paper, or letterbox drop people who have boats or caravans sitting on the street?
That's a great idea too Wylie.
A former co-worker (Canada), her father did this during the winter months, in a large former farm building. It was so profitable, he built another.
Wylie is right- Dromana is a long long way to the airport.
Off topic- but I've often thought that our local council could pick up that idea. They have this huge paved car park which is never used. In the meantime the airport, ten minutes away, only needs a bus service to provide a cheap alternative to the ridiculous parking prices at the airport.
we are an hour and a half and more depending on traffic from the two major airports here in Melb.
If I don't get it for free, we simply stop renting it in the next 5 year term. We will not take up that section of the option - separate lease for each property.
we are currently providing parking for a customer for one of his cars $11 per week. All care no responsibility and no insurance cover etc. He was cool with that.
I have put a sign on the front fence of the lot stating that storage is available. No takers so far other than the one guy, but it's early days.
I had a guy enquire about his boat, but I told him there was no protection against theft, etc - all care no responsibility...he declined.
there are some good rent brokers/agents out there.
there is a lot to learn in the process, I always use a professional who knows the tricks and angles to do it for my businesses especially when dealing with the big players who eat up the na?ve for breakfast
if you end up moving their fee is often paid by the new landlord, if you stay you would pay but may get much more favourable terms
there is a lot to learn in the process, I always use a professional who knows the tricks and angles to do it for my businesses especially when dealing with the big players who eat up the na?ve for breakfast
if you end up moving their fee is often paid by the new landlord, if you stay you would pay but may get much more favourable terms
yes we do.
