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Commercial lease renewal

Bongojohn · 2024-08-22 17:21:03

Hi all, Just looking for some advice on this. I've had a lease on a business premises for the last ten years, the lease is now up for renewal. The owner is looking for a payment of €25k to, as they put it "buy the lease". This is separate to a slight increase on the monthly rent which was expected. When i got the first…

22-08-2024 6:21pm

#1

Bongojohn

Registered Users Posts: 18 ✭

Join Date: January 2008

Posts: 10

Hi all,
Just looking for some advice on this. I've had a lease on a business premises for the last ten years, the lease is now up for renewal. The owner is looking for a payment of €25k to, as they put it "buy the lease". This is separate to a slight increase on the monthly rent which was expected. When i got the first lease in 2014 they demanded a payment of €10k which was described as "key money", and i figured this was because the unit was fitted out and ready to go for the new business. Where do i stand with this? I don't have access to this amount at the moment. Is this the norm when renewing a lease?
Thankful for any input

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