Thinking about leasing a shop unit?
Other commercial premises?
If you are thinking about leasing a commercial shop unit in Ireland there are a number of key areas you need to consider before going ahead.
Set out below is a non-exhaustive list of issues that you will need to be satisfied about before investing your cash in a full repairing and insuring lease (FRI lease).
At the end of the piece I also deal with some common questions I am regularly asked by people looking to start or grow their business by taking on a commercial unit.
1) The term
How long will your lease be? Will you have statutory rights under the Landlord and Tenant (Amendment) Act, 1980? Will you have a break clause? Is Vat payable?
Who is responsible for repairs? If it is a lease in excess of 5 years you as tenant will likely be responsible.
If it is a lease of less than 5 years you may only be responsible for internal repairs.
The question of whether it is a new building or an older building will also be significant and other issues to be addressed would include latent and inherent defects in the building, what is considered fair wear and tear and what risks are covered by insurance.
If it is a full FRI lease then you as tenant will almost certainly have to pay the insurance premium held in your landlord’s name.
This will vary depending on whether you are the sole occupier of the building or if it is multi tenanted in which case you will be obliged to pay a proportion of the landlord’s premium.
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Employment Law In Ireland: The Essentials for Employers, Employees and HR Managers
27 Irish Employment Law Cases: Priceless Lessons for Employers and Employees from Decided Cases of the EAT, Equality Tribunal, and High Court
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The Art of Marketing Your Services Business Online: How to Get New Clients With a Proven, Inexpensive 5 Part Digital Marketing Strategy
Buying a House in Ireland: A Step by Step Guide by a Builder/Solicitor
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