Sale and lease-back.

Earlier this year I moved into a newer-bigger home and I'm loving it. The bush at the back fence, bus at the front, etc. Even an occasional wallaby on the roof.

Most of you know I'm retired, but you would also be aware that I'm no longer young. Another five years is probably all I'll need it for. EDIT: Just re-read that and it's not what it sounds like. :EEK:

My dilemma is that, while the body is not what it used to be, my brain still works, and I have been self employed most of my life. I still have ideas, a brainy son and the need for some capital.

If I were to offer a sale/lease-back for five years, what would you hard-nosed *******s want to see in the contract? Month in advance (bank allotment), NO maintenance calls other than "acts of God", ergo no need for a PM for starters.

Any suggestions?

BTW I know how to do sums myself. LOL
 
Obviously rent review provisions would need to be agreed eg. Annual fixed % or $ increase , market review at year 2 & 4, lease break provisions but not before year 3.

Lessor's right to inspections max no. per year.

Registration of lease on title.

Succession/death/assignments/submitting.

As leases exceeding 3 years are not covered by the tenancies act you may need specialist legal advice.
 
Obviously rent review provisions would need to be agreed eg. Annual fixed % or $ increase , market review at year 2 & 4, lease break provisions but not before year 3.

Lessor's right to inspections max no. per year.

Registration of lease on title.

Succession/death/assignments/submitting.

As leases exceeding 3 years are not covered by the tenancies act you may need specialist legal advice.
 
Back
Top