hi,
We are re - leasing a small 84m2 office in N Shore. Rental approx 22K +GST
The departing tenant who were a start up business gave us a 3 month's equiv of gross rental guarantee - approx 5K as security as they were a new business and relatively new to the country. A personal guarantee would have been risky. This has worked well and we will be returning it to them in full as they leave. Obviously this was all written into the additional terms of the lease agreement.
Ideally we would like the same arrangement with any new tenant that signs up . The agent is suggesting a " bank bond" is another alternative to sum of money transferring into our account.
Does anyone have any experience taking a bank bond as a guarantee or have any other advice to other that gives some security when dealing with small, often new, businesses as tenants?
Thanks
We are re - leasing a small 84m2 office in N Shore. Rental approx 22K +GST
The departing tenant who were a start up business gave us a 3 month's equiv of gross rental guarantee - approx 5K as security as they were a new business and relatively new to the country. A personal guarantee would have been risky. This has worked well and we will be returning it to them in full as they leave. Obviously this was all written into the additional terms of the lease agreement.
Ideally we would like the same arrangement with any new tenant that signs up . The agent is suggesting a " bank bond" is another alternative to sum of money transferring into our account.
Does anyone have any experience taking a bank bond as a guarantee or have any other advice to other that gives some security when dealing with small, often new, businesses as tenants?
Thanks
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