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Type: Posts; User: Scouser

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  1. Replies
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    Generally, if it's not structural or capital...

    Generally, if it's not structural or capital investment it's down the tenants to pay. I'm too lazy to read the specific contract but that's been quite consistent for decades.
  2. The main thing to bear in mind is that it has...

    The main thing to bear in mind is that it has little in common with residential rentals where getting a tenant out can be a long winded expensive nightmare if the tenant knows the game (I speak from...
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    1,555

    Out of interest was approached to see if I wanted...

    Out of interest was approached to see if I wanted to sell property (as I mentioned I might sell when it was vacant last year). Better price than I expected was mentioned and also did a very short...
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    Main assumption was not based on 100% loan - you...

    Main assumption was not based on 100% loan - you are correct as I was being lazy on the idea of a 100% loan calculation and didn't check my numbers. Out of interest what would be the principal...
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    Either it's a commercial loan - in which case no...

    Either it's a commercial loan - in which case no way one would get 100% mortgage - so more like 65% max or it's using residential property as guarantee in which case there is no requirement to pay...
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    Very much a 'it depends' answer. I own a small...

    Very much a 'it depends' answer. I own a small commercial property in Frankton and it seems a decent area and appears to have low vacancy rates, good road access, parking and plenty of other small...
  7. Poll: I thought the ratchet clause in the standard ADLS...

    I thought the ratchet clause in the standard ADLS agreement was a full ratchet. I certainly read it that way.

    I reckon a banker's guarantee (I forgot the proper name but essentially funds...
  8. Replies
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    957

    It's either a banker's certificate or a personal...

    It's either a banker's certificate or a personal guarantee in my experience. The certificate is probably safer but the personal guarantee seems more common.
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    If lots for sale then your concerns are likely...

    If lots for sale then your concerns are likely reasonable - saw something similar in retail on Great Sth Rd a couple of years back - then realised 2 issues - 1) retail is suffering and 2) a larger...
  10. I bought mine 2nd hand on TradeMe - I felt it...

    I bought mine 2nd hand on TradeMe - I felt it dealt with the basics well, yields have moved on a bit (down) since then, he tends to favour specific types of commercial property to an extent I'm not...
  11. Got similar feedback anecdotally - End of tenancy...

    Got similar feedback anecdotally - End of tenancy recently - while looking for new tenants was asked if would sell - mentioned quite a high price and the real estate guys seemed to think that was...
  12. Replies
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    1,202

    Ironically, the same day I gave the instructions...

    Ironically, the same day I gave the instructions to paint I have a prospective tenant who wants to re-configure the layout.....
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    Thanks Davo - not hot though the rumour mill has...

    Thanks Davo - not hot though the rumour mill has it that a number of owner operators want to buy in Hamilton and there's not enough for sale - believe it if I see more evidence.
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    Thanks Ross That's matching other feedback...

    Thanks Ross

    That's matching other feedback I've gotten since I made this post and also my original feeling that it would be money reasonably well spent to get top level $ on the lease. It isn't...
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    Thanks Beano - as it's smallish (~ 200m2) I...

    Thanks Beano - as it's smallish (~ 200m2) I think the 3D plan is quite pricey in comparison to the actual costs.
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    Paint and Recarpet or wait for new tenant

    I've a commercial office property in Hamilton that has come to the end of tenancy and I'm either re-leasing or selling (if I get the right price). It needs repainting and recarpeting but I'm...
  17. Replies
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    1,528

    local commercial real estate agents normally know...

    local commercial real estate agents normally know the lease details of several comparable leases - I've used them in the past to get estimates especially as the cost per m2 is reasonably standard by...
  18. Replies
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    1,537

    Check the lease - I'm pretty sure that my tenant...

    Check the lease - I'm pretty sure that my tenant pays insurance excess on the one example I recall but up to a pre-determined maximum specified in the lease.
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    RTA does not apply to commercial leases. So...

    RTA does not apply to commercial leases. So rather easily.

    It is, however, against the Property Laws Act 2007. Before that it was legit.

    I did state it was of dubious legality and the best...
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    I would essentially tell them to stick it - they...

    I would essentially tell them to stick it - they have no rights or leverage and it's down to your generosity whether they get access or not and point out they're being rude and that isn't going to...
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    The Bank I presume?

    The Bank I presume?
  22. Replies
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    908,635

    It's one of those rules of thumb that is...

    It's one of those rules of thumb that is generally true across most property markets in that the expensive properties lead booms and busts (sorry too lazy to find the research). The theory is that...
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    Based on an entirely representative sample of 1 -...

    Based on an entirely representative sample of 1 - yes. :lol:

    I have a one year old lease and it has CPI + 1% plus a hard ratchet clause - however, other matters were negotiated - so it's the...
  24. Thread: 6 Year lease

    by Scouser
    Replies
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    3,852

    We don't a lot of properties for a long time but...

    We don't a lot of properties for a long time but have read an awful lot of lease agreements whilst sourcing the 3 we have. Plus owned a business and leased several properties over a couple of...
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    Sorry I phrased that rather badly - I did not...

    Sorry I phrased that rather badly - I did not mean it's a regulatory requirement to have an IEP - that varies by council - I meant if there is doubt around NBS value you must have an IEP prior to...
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