URGENT sub lease questions

[designaddict]

Hi guys,

It s Newbie here, I ve been looking for a shop for my business and
an opportunity comes lately, and i have no idea to do it.
The tenant/ 2nd party is letting it to me, He sub let the property
to his mates before with a hand shake aggrement. Since he doesnt know
me well he wants to put it into subleasing contract or the other choise is
he would resign it and put me as 2nd party.

Q1. Which one is easier/ cheaper option for me in administrative point of view?
Q2. Do i have to pay the agent fee and subletting fee or he does? and how much is it?

Cheers
Henry

 

[Raddles]

Hi there
before you do anything can you get a copy of the head lease.

You will find if this chap wants to sublet to you - he has to have the consent of the head lessor - and there is usually an obligation to pay the costs of considering you as a tenant.

As for the costs - you will need to make further inquiry - if the head lease refers to costs on a solicitor/own client basis - it could be as expensive as the particular firm used to advise the head lessor.

With either option - there will need to be discussions with the head lessor. Why not talk to them and see what in the long run might be the easier option.
thanks