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Cost of adrawing up a new small commercial lease

  • 10-12-2009 4:01pm
    #1
    jimmmy
    Closed Accounts Posts: 2,539 ✭✭✭


    My brother has a shed he is thinking of letting out for less than 4 years 11 months, as after that he understands the tenant has rights to stay forever. My question is ; how much would a solicitor charge to draw up a lease, or if he just got typed out a piece of paper signed by both parties ( indicating premises, rent, term, who pays what ) would that be enough ?


Comments

  • #2
    Victor
    Registered Users, Registered Users 2 Posts: 78,580 ✭✭✭✭Victor


    There are standard leases available. You might get them from legal stationers.


  • #3
    dats_right
    Registered Users, Registered Users 2 Posts: 1,169 ✭✭✭dats_right


    Victor wrote: »
    There are standard leases available. You might get them from legal stationers.

    I think that is terrible advice. Especially, where property rights are concerned. The OP could well end up becoming contractually bound by terms that 1) they never intended, and 2) are against their interests. Do yourself a favour OP and get a solicitor involved to protect against these and other pitfalls. They will also be able to advise you that there are now exceptions to the rule that tenants acquire rights to remain in possession after five years.


  • #4
    jimmmy
    Closed Accounts Posts: 2,539 ✭✭✭jimmmy


    A solicitor has quoted an astronomically high price to do what I consider to be a small piece of work. The rent is very small and if a solicitor charges a fortune its hardly worth while renting it out. Would any solicitors like to quote or tender for the work, or indicate what they consider a fair price ?


  • #5
    dats_right
    Registered Users, Registered Users 2 Posts: 1,169 ✭✭✭dats_right


    jimmmy wrote: »
    A solicitor has quoted an astronomically high price to do what I consider to be a small piece of work.

    If you have only obtained a quote from one solicitor, I would respectfully suggest that it might be a good idea to obtain more from to a few others.


  • #6
    nuac
    Registered Users, Registered Users 2 Posts: 6,769 ✭✭✭nuac


    A solicitor asked to advise would have a checklist of points on which to take instructions - can take some time to talk through these. Minimum fee would be in region of €750 plus outlays. Leasing arrangements can be more troublesome than outright sales.


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  • #7
    jimmmy
    Closed Accounts Posts: 2,539 ✭✭✭jimmmy


    I know of one solicitor who done it once, it took him 10 minutes, he just filled out the gaps in a standard lease ( like a good stationers may have, or which can be downloaded ) and he charged 50 euro.


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