Salon rent/lease?

[Mandita8601]

I have arranged to view a commercial property and wonder if any geeks have any advice. It's advertised with a weekly rent (rent includes all water charges, electricity charges and building rates)!! I haven't rented a shop before so don't know the ins and outs of leases etc. The rent sounds really reasonable but i wonder if there's maybe something i'm missing that would also have to be paid for. Buildings insurance? legal fees or a big deposit or something. Any advice would be appreciated. I have rented rooms and chairs before but not a shop. Kinda frightens me tbh :Scared:but would really love to have my own place. I don't have a lot of money so maybe looking for a room/chair instead would be better. Just been looking around and not seeing anythin suitable and doesn't appear to be much cheaper than this shop i've seen. Is there anything i should lookout for with leasing? I'm probably being very niave to this salon rental malarky haha Thanks in advance x

 

[Mandita8601]

oh and can someone explain rent and leasing. I've been trying to define them online but can't understand the jargon lol. Is rent paid as well as a fee for leasing? or is the rent basically like a mortgage for leasing. Probably not making sense haha

 

[justpampered]

Hopefully someone will correct me if I'm wrong but from my understanding it depends quite a bit on whether the shop is already a salon and whether the lease of the current occupier is up or if you are purchasing their lease? Is it a salon? Are you purchasing the business? Is the lease coming to an end so you can begin a new lease? Or is it a vacant premises?

If it is a different business (ie not a salon or shop) you need to look into the change of use as well?

Speak to the agent and hopefully they can answer any questions

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[justpampered]

So if you are purchasing the lease this would be in addition to rent. From shops I have rented it has required 3 months up front but it is probably all different.

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[Mandita8601]

It's empty and was running as a chiropodists clinic. There's short and long therm leases available. Does that sound like there's lease and rent to pay? That'd be like paying twice (in my mind anyway). There's a hairdresser next to it so wouldn't be able to offer hair but could do nails and beauty.

 

[justpampered]

Hmm think you need to make a list of questions for the agent to iron out the confusion. If its empty I assume it would be the start of a new lease with yourself meaning you pay quarterly (or however requested) the amount stated but remember it will probably be exclusive of vat so add vat to the cost. Ask about additional charges. Also are all rates and utilities separate or included?

Then check out insurance. They will (or should have) landlords insurance but you will still need at least contents insurance. Is it a block or separate, find out if there is a communal waste you all contribute costs towards or if you need to organise your own.

Hope this helps but really the agent will have the answers x



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[Mandita8601]

Thanks just pampered that's cleared a few things up in my head. I'll have a look and ask lots of questions while I'm there. Probably too much for me to take on by the sounds of it. Just when I saw the price I thought it didn't sound much more than renting a chair/room or nail bar. But there's obviously a lot of other things on top that I wouldn't have a clue about

 

[justpampered]

all you can do is ask the questions and from there you can work out if its worthwhile good luck

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