anyone have Lease agreement?

[savagefan04]

Hey guys,

the wife is thinking of picking up a sublet in a local strip mall, but the current owner is doing all this on his own (no agent) and does not have any form of leasing, subletting agreement we can use.

If anyone has a lease agreement or sublet agreement in word doc format they would be willing to share that would help us decide if we should continue with this business idea.

Thanks

Gabe

 

[Rolex]

At this point, with the information you have, I wouldn't do it.
There might even be a clause in his lease forbidding him from sub leasing. Then the actual owner can shut YOU down, and tie up (or keep) your entire inventory.
I'd get something in writing from him, and then check with a lawyer or lease agent as to its' legitamacy.
Make eye contact with him and see how he reacts when you ask him if you can contact the owner.
Just remember, the owner leases it to make money, and the sub lettor also wants to make a profit OVER what his monthly agreement is, so you end up paying 2 people for one rental.

 

[savagefan04]

thanks for the info Rolex. I guess I should have been a bit more clear on the topic. My wife is actually thinking of renting some space inside an already established computer store. She's not taking the whole store, just a small portion to set up an informational booth on her recruiting practice. the current store owner wants to keep the terms very informal, but i would to have it a bit more structured so he can't say she owes him part of the revenue that may get generated. Basically i'm looking for some kind of legal looking document that outlines how long the lease would go and define the fee for the space. in any event i'll talk to the store owner today/tomorrow to make sure he doesn't have anything in his master lease agreement that prohibits this.

 

[Rolex]

If she's renting a spot in an active store, that's different.
She needs to figure out how much she's paying per square foot so she doesn't end up paying twice the going rate.
No matter how friendly the store owner might be about the deal, never go into ANY type of business arrangement without something in writing. If he won't agree to a contract to protect the agreement, then I wouldn't do it.

 

[TalonOne]

No matter ho "informal" your instinct to get it in writing is the right one.

Any legitimate business owner will understand and be open any questions and concerns.

Next piece of advice ....go to the library there are thousands of standard agreements to be had there....for all types of situations.


And then .....get a friend or relative (a good laywer would be better) you consider savvy to look it all over so you guys don't make an emotional decision.

My 2 cents.

 

[FastEddy]

Tricky, tricky, tricky.........
So many issues to think about.
The main one is liability of personal injury and loss of goods. 2nd would be the stability of the other company.

Chances are you will not be able to get insurance and chances are you wont be covered by his.

Theft, fire, tax leans, supplier leans, and a million other issues come into play here.
Think long and hard before doing it.

Feel free to contact me and I can go into detail.

 

[savagefan04]

thanks guys. looks like we'll need to rethink this idea. as for personal items, there really wont be much. just a few fliers and brochures about her company. the PC that would play the video slides is coming from the PC store...

 

[Rolex]

the PC that would play the video slides is coming from the PC store...

Well, there's something else to consider. If the comp goes south, you'll end up eating it.