Renting Problem

huangqihui

Hi Everyone,

I try to start a retail shop in city center, I am very happy with one good location and great value unit for my business I suppose. Therefore I call agent to have further inquiry. However, this is my first business and the agent ask me to provide previous landlord reference,bank details and guarentees.
I think its fair enough cause they worry about my ability to pay for rent rates and so on.
Honestly how can I provide these things for first business.
Anyone got the same problem?
Any good advice please help me to find out a better solution.

Actually I contact some different agents for about 5 retail units and have exactly the same problem of providing documents. I really DO NOT HAVE THESE.

So please help Thanks a million.
michael

Nody

//MOD

Please note this thread has been moved from Rec -> Work & Jobs to Entrepreneurial & Business Management with a new charter in effect.

OP as your question is relating to your own business rather then being an employee I think you'll find this forum more suitable for your query.

Local mods if it's not a good fit please feel free to send it back.

//MOD

highlandseoghan

Hi OP

Different agents will look for different things but if the unit your interested in is in a good location you can be sure all agents will look for references etc...

Have you ever rented before? Do you have savings in the bank or credit union?

if you have any references from previous landlords for renting even your home or any savings in the bank.

I am afraid if you have not got any references at all and no savings in the bank you wouldnt stand much chance of being able to rent this unit.

When I started a number of years ago I had no previous rental experience or a large sum in the bank and I ended up contacting every single agent and going street to street looking at units. I eventually found one that was not in a bad spot but the unit was in a bad way. I ended up getting it without any references or money in the bank cause the unit was in bad state and thats how I got started. Another option would be start at market stalls or an online shop to get cash built up.

huangqihui

I did not rent any commercial unit and money will transfer from other country only when business start. But have few money on bank account.
I do find one premise to let without previous experience but its a bad location with standard rent. So I will not try that unit cause once put money on this and short money to negotiate another retail unit and products as well. I had some experience in online shop but will not suit for this business plan so too tough for the beginning.
I wish the agent will consider my situation and give it to me when I put more deposits to offer.

highlandseoghan

Go in and explain the situation to the estate agents and see. I find a lot of esatte agents are friendly and easy to talk to. They might have a solution for you.

Last time I rented some commercial space in Dublin the terms were advertised at about 2000 a month, 6 months rent upfront, references etc.

I ended up getting it for 1500 a month, with a lease that allowed 1 months notice to leave, and was only 2 months deposit. I had no previous rental references. The point being that the terms are never set in stone, Im sure you can get some change out of the agent if your smart and negotiate well.

huangqihui

did you negotiate with agent or landlord ? You know when I call lisney, BNP etc for inquiry. They even just record my phone number and never call back.

Was with the agent. Best thing is to try and book a viewing and do the negotiating during that. In your case maybe the landlord wouldn't mind a shorter lease given you dont have references, as it allows him to pull out too if theres a problem, i.e. 2 months rent upfront, with a one month notice clause. How far you can negotiate usually depends on how strong the demand is for the unit, how long its been on the market and so on.

If they aren't calling you back go into the office handling the property and talk to the sales person who has that particular property.

Gloomtastic!

huangqihui wrote: »

did you negotiate with agent or landlord ? You know when I call lisney, BNP etc for inquiry. They even just record my phone number and never call back.

It's the usual unprofessional service you expect from estate agents, maybe it's their way of dealing with time wasters. Keep trying! Speak to the receptionist. Ask if they are in the office, if not when are they expected in. Ask for the agent's mobile no.

huangqihui

just want to know more about how to start a business as a brand new trader, anyone got same situation this year?