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Any pitfalls renting commercial property?

  • 27-03-2014 8:42pm
    #1
    bob5666
    Registered Users, Registered Users 2 Posts: 202 ✭✭


    Is there any pitfall renting out commercial property for free without a lease ?


Comments

  • #2
    discodavie
    Registered Users, Registered Users 2 Posts: 341 ✭✭discodavie


    bob5666 wrote: »
    Is there any pitfall renting out commercial property for free without a lease ?

    It's not renting it out , that's giving it away. Who's going to do maintenance , insure it , pay rates etc. you need to have that covered at the very least.


  • #3
    GerardKeating
    Registered Users, Registered Users 2 Posts: 7,805 ✭✭✭GerardKeating


    bob5666 wrote: »
    Is there any pitfall renting out commercial property for free without a lease ?

    If there is outstanding rates due, you might become liable for them.


  • #4
    bob5666
    Registered Users, Registered Users 2 Posts: 202 ✭✭bob5666


    GerardKeating wrote: »
    If there is outstanding rates due, you might become liable for them.

    Could they claim squatters rights or anything ?


  • #5
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    bob5666 wrote: »
    Could they claim squatters rights or anything ?

    No lease, they're not paying rent- and they have full and unencumbered use of the property- that would be a yes........ It would take them 13 years to assert those rights- but you are setting yourself up for trouble. Even a token rent amount would extinguish this anamoly. Far more important- are rates, historical, current and future. They could be quite substantial.

    You need a lease- even if you're only proposing a token rent- you need to spell these things out.


  • #6
    bob5666
    Registered Users, Registered Users 2 Posts: 202 ✭✭bob5666


    The_Conductor wrote: »
    No lease, they're not paying rent- and they have full and unencumbered use of the property- that would be a yes........ It would take them 13 years to assert those rights- but you are setting yourself up for trouble. Even a token rent amount would extinguish this anamoly. Far more important- are rates, historical, current and future. They could be quite substantial

    You need a lease- even if you're only proposing a token rent- you need to spell these things out.
    The person is in my building and are will to sign a lease but are taking there time in doing so been there there 3 weeks now just afraid of sometime like squatters rights
    So if they dont sign lease i can get they to move out handy enuff ?


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  • #7
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    Its a hell of a lot easier to evict a commercial tenant than it is a residential tenant. Is this what you mean?


  • #8
    antoinolachtnai
    Registered Users, Registered Users 2 Posts: 9,815 ✭✭✭antoinolachtnai


    There are lots of pitfalls. This is a very complicated area, it depends on the circumstances, and you really need to get legal advice. If you really can't afford legal advice, at least find someone who is familiar with the business of commercial leases and ask them to give you some informal advice.


  • #9
    bob5666
    Registered Users, Registered Users 2 Posts: 202 ✭✭bob5666


    antoinolachtnai wrote: »
    There are lots of pitfalls. This is a very complicated area, it depends on the circumstances, and you really need to get legal advice. If you really can't afford legal advice, at least find someone who is familiar with the business of commercial leases and ask them to give you some informal advice.
    Thanks for advice have it sorted now


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