Shop Lease

[mattlewis84]

Hi,

My gilfriend is currently thinking about taking over the lease on the hair salon which she is currently working at. Her boss at the moment has said that it may be better for him to keep his name on the lease when she takes over in order to negotiate a better rent from the shop owners. Obviously I am very sceptial about this and am wondering what the potential come backs could be? I am also wondering whether it would better for him just to be on the lease as a gurantor- or could this also cause problems in the future?

Thanking you in advance for your responses.

Matt.

[maria102]

Hi,

My gilfriend is currently thinking about taking over the lease on the hair salon which she is currently working at. Her boss at the moment has said that it may be better for him to keep his name on the lease when she takes over in order to negotiate a better rent from the shop owners. Obviously I am very sceptial about this and am wondering what the potential come backs could be? I am also wondering whether it would better for him just to be on the lease as a gurantor- or could this also cause problems in the future?

Thanking you in advance for your responses.

Matt.

I think the simple answer to this, is that if your girlfriend takes over the lease, her boss is removed! In what capacity does he want to remain on the lease and if he wants to remain on it, why does he want someone else to take it over? What is in it for him or her in these circumstances?

[mattlewis84]

Thanks for your reply, his said that he would only be on the lease in order to negotiate a better rent for my girlfriend. He initally said as a partner, but has since stated he would only be a gurantor. Could he have any claim to the business as a gurantor?

[M-C Hoare]

If she is taking over the lease obligations, she needs to make sure that before she does all the obligations are up to date otherwise she may find that at the end of the term she has to spend a bucket of money on repairs because getting the property back up to the standard it was when the lease started.
At least if the current leasee keeps his name on the lease then he will continue to be responsible for repair costs.
I assume you mean that your girlfriend will take over the running of the business without being named in the lease, which is fine provided that there is clear agreement about the financials.
I think she would benefit from proper advice as it could save her getting stuck in a nightmare in the future.
Marie
Marie