Question for salon owners

[Hairdaze]

Hi all

I hope you don't mind me asking but how many of you have bought your premises and how many are renting. For those who rent, what length of lease did you commit to when 1st setting up? I'm in the process of weighing up my options and the pros and cons of either setting up a hair salon or going mobile. Anything you wish to share will be appreciated.

 

[SMRGxo]

I'm renting. On a 4 year lease x

 

[Brownie]

I rent and I'm on a 5 year lease x

 

[taggyboy]

We bought ours with a 3 bedroom flat above the salon as an investment

 

[Dolci_Dolittle]

I'm renting and its a rolling lease (renews every may) x

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[Beansy]

I rent; 7 year lease with a break clause in years 2 & 3. I went for 7 years so that if I decide to sell in a couple of years, it still has a viable number of years for a new tenant

 

[Hairdaze]

Thanks this is a great help. Just another quick question, is it usual practice for a lease to have a full repair and insurance clause as most of the premises I'm looking at seem to have that built in? Obviously before I sign anything I will get legal advise but I'm just doing my research at the mo.

 

[tobl55]

I rent..had a 1 year contract sept 11-12. Don't think my landlady has realised my contract has run out.

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[minniemouse]

Thanks this is a great help. Just another quick question, is it usual practice for a lease to have a full repair and insurance clause as most of the premises I'm looking at seem to have that built in? Obviously before I sign anything I will get legal advise but I'm just doing my research at the mo.

We currently rent and have a 15year lease with 3 yearly review periods. our lease is also a repairing lease so make sure you get gas and electrics checked as its different to residential letting where your landlord maintians boiler etc. We recently had to install new boiler and pipes and had to pay as our landlord refused to contribute as according to lease it was completely our responsibility.