Renting a commercial premise - lot of "paper work"

Ctrl Alt Del

Hello,

Looking to rent/lease a commercial space in Dublin West.
Approached the current occupier that will sublet to me.

After agreed the amount,T&Cs,now they are looking at :
-my business plan
-my previous year set of accounts
-bank account statements.

Called,asked around mu friends,I'm been told that is not normal but some people will may ask for !

Anyone in same position...how did you dealt with !??

Thanks in advance...

Bandara

Ctrl Alt Del wrote: »

Hello,

Looking to rent/lease a commercial space in Dublin West.
Approached the current occupier that will sublet to me.

After agreed the amount,T&Cs,now they are looking at :
-my business plan
-my previous year set of accounts
-bank account statements.

Called,asked around mu friends,I'm been told that is not normal but some people will may ask for !

Anyone in same position...how did you dealt with !??

Thanks in advance...

Just give them ?

It's their premises, that's what they require to let it to you, it's not unreasonable.

If your not happy then walk away, you need to be confident they are reputable, trustworthy also.

If you are subletting make sure they have the permission in their own lease to do such a thing, as for a copy of their agreement with the landlord showing that they can sublet.

Ctrl Alt Del

Thanks 'hammertime'

I'm just not happy to pass them over all my business documents.
I'm not buying the premise so i cannot see the reason why they need it !
Sorry,may look silly but myself i see no reason to ask for that.

I'm paying rent in advance,deposit for few months so they should be covered in case of me having some form of financial stress !

In the worst case scenario,i may print them,show them in a short meeting then take it back.

Re sublet clause ,yes they have it as is coming from current landlord,the unit is empty and unoccupied for long time.

Strange enough,can't back off as i've already built few business plans on that unit alone...

Regards

Nuttzz

Maybe the head landlord wants to see them before he approves the sublet?

Hanley

It's no big deal. The landlord just wants to make sure you can actually pay the agreed rent going forward and you're not blowing smoke up his ass.

jimmii

We just took a unit recently and it was the same. We told them we didn't want to give them those documents and they never mentioned it again and everything went fine. I guess it depends how much they want someone to take the place.

Ctrl Alt Del

Just a quick update,to prove that the some people think and lives as back in old Celtic Tiger' times...

The sublet company never came back to let us know of their intentions.
No reply to emails,no phone calls answer ,nothing...
They are paying thousands to landlord just to keep the space empty ...doesn't make sense to me !
We can't approach the landlord directly as he's getting paid irrespective if we move or not move in that unit ,he's getting paid by sub let guys !

Time to move on...time to change the mentality of some business around this part of the country !!!

Have fun...