Property owners – How to Get the Most Out of Your Lease

by admin-king | 23rd May 2014


In this edition of King’s Word we asked Mark McAvoy of GM Lawyers to provide a brief checklist of critical elements that owners should consider when negotiating new leases with tenants. Mark has extensive experience in property law having been involved in a range of small, medium and large property transactions over his 23 year career.

As agents, our experience tells us just how important a well structured lease is when an owner wants to sell a property. History has shown that poorly structured leases can have a significant and adverse impact on the selling price achieved.

The type of agreement used and the items of expenditure defined as recoverable outgoings can substantially impact the value and saleability of a property.

Furthermore, in the present climate banks are closely scrutinising leases when considering lending against property. Poorly structured leases can result in higher loan-to-value ratios or even lost financing opportunities.

We trust Mark’s comments provide you with some useful information that assists in maximising your wealth.

 

Regards
Wayne J Robson
General Manager

 

 

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