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Carl Kruse Art Site

Page history last edited by candis nell 4 years, 4 months ago

Outgoings

 

One of the benefits of being an owner associated with commercial property is how the tenant usually pays the majority of the outgoings, such as local authority or council rates, insurance, repairs as well as maintenance. This means that the majority of the rent collected by the owner has the capacity to be kept unlike the problem with residential property in which the owner uses the rent money to cover rates, taxes, maintenance as well as repairs.

 

All the information on who pays the expenses, how much parc clematis showflat rent is actually owed, how often it's increased is all outlined within the lease.

 

The lease

 

This is actually the most important document with regards to commercial property. Unlike a residential lease that is commonly a standard record and about four webpages long, commercial leases in many cases are 50 to 60 pages long, are not standard documents and generally require a solicitor to draw all of them up. Read the lease carefully and if you're unsure of anything, ask a lawyer to explain it for you.

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