Commercial

Commercial Leasing FAQ – Maintenance

Fitzpatricks - 04/05/2020

What do I do if I have a maintenance issue? Review your lease agreement โ€“ this will advise you on what your responsibilities are. The Lessee is usually responsible for repair and maintenance issues such as changing light globes, plumbing fittings (such as washers and mixers) and repairing and maintaining door hinges, door handles, door closers and door locks installed in the property. Fitzpatricks Commercial …

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Commercial Leasing FAQ – Possession

Fitzpatricks - 04/05/2020

Iโ€™m leasing a property โ€“ when can I have possession? Prior to handing over the premises to the Lessee, Fitzpatricks Commercial requires a copy of the signed lease, payment of the holding deposit, security deposit and lease preparation fee (where applicable). Fitzpatricks Commercial also requires a copy of the insurance certificate of currency in relation to Public Liability Insurance (minimum $20m) and Plate Glass insurance …

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Commercial Leasing FAQ – Other Fees

Fitzpatricks - 04/05/2020

What other fees are involved in leasing a commercial property? In a commercial lease situation, the Lessee is generally required to pay lease preparation costs and costs associated with searches (eg: credit or company check). In a retail lease situation, the Lessee is not able to be charged a lease preparation fee.   Generally, the Lessee is also required to pay their own utility services …

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Commercial Leasing FAQ – Holding Deposit / Security Deposit

Fitzpatricks - 04/05/2020

What is the difference between a holding deposit and a security deposit? A holding deposit is used to hold the premises for the prospective tenant until a lease agreement is signed. Should the lease not proceed the Lessor may use the funds to cover costs incurred eg: legal fees. Once the lease agreement has been signed the holding deposit is allocated towards rent. A security …

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