What things can a tenant take with them when there lease is over? I am asking specifically about things that are built in, i.e. ventilation systems and fire supression systems.
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What things can a tenant take with them when there lease is over? I am asking specifically about things that are built in, i.e. ventilation systems and fire supression systems.
It depends on their lease with the owner. Especially when its commercial property.
You really should keep your threads together. If you really want to start a new thread, then you need to give more background.
I wasn't sure if people kept reading the original posts, and this question is related in that I am the same person, but now I am addressing a different set of circumstances. My husband and I are opening a restaurant and we are having conflicts with the current tenant. He wants us to buy the business and the equipment. That offer was not on the table in the beginning. He is taking the name of the buisiness and opening elsewere. So there isn't a business for us to buy, just equipment. My first question was answered, if we have the lease can he sell the existing business in the space we have leased. Previously, the owner had cashed the check, but we didn't have signature on the lease, now we do. The business owner has presented us with a very long expensive list of things to buy, which included the boiler. (the landlord informed us that the boiler is not his to sell) Unfortunately, I can't get in to see our lawyer for another week.
That's why I left this thread stand alone, because it was sufficiently different. But, as I said, this is spelled out in the lease between the old tenant and the landlord. On commercial leases, very often, any equipment, even those built in, may still belong to the tenant. YOUR lease should spell out what the landlord is including in the rental. Anything not listed belongs to the previous tenant.
Do you know where the old tenant is moving to? If you do, you might check out the place and see if he really needs the equipment he wants you to buy. If you refuse to buy it, that means he has to pay to move it or even store it. Expenses he probably doesn't want. So if you make a counter offer of what you can afford or thing the stuff is worth, he may come down.
Quote:
Originally Posted by Chefette
What he is or isn't allowed to take is between the tenant and the landlord. You are a third party and have no say in that.
If things covered in your lease are missing you have an issue with the landlord - there is no direct relationship between you and the tenant.
(Who prepared this lease? Sounds like one nightmare after another.)
The landlord prepared the lease, but he has only owned the building for five years, the tenant has been there for 10 years. The tenant is moving to a fully renovated space, he has been bankrolled by an individual and not a bank. Now there are issues in the space that he is moving into. The lease btwn us and the landlord was pretty clear cut. We get the space and can buy anything in the space from the tenant, aside from the boiler, which the landlord installed last year for the whole building. We had a purchase and sales with the tenant for some of the equipment, not all. Also, he is taking the name to the new space so we do not feel that there is "goodwill" to purchase. At this point, we are thinking of telling him to clear all of his stuff out and not purchasing anything, which would really be a bad deal for him. He decieded that he wanted to sell the business this week, even though we had an offer on the table and had signed a lease. Seems like he wants more money than we were willing to offer. At first, we thought he could sell the business, and were upset as hell. All of the money we have financed and we are mortgaged to the tops of our heads. We were not sure what our rights were. As previously stated, our lawyer isn't available till late next week.
As I understand, you have now signed the lease prepared by the landlord (I assume your lawyer approved it). Since this lease is clear cut, your rights are to either negotiate a purchase of the equipment or tell the tenant to remove it. That's it, no more, no less.
Thanks everyone, all advice that has been a big help
Quote:
Originally Posted by Chefette
So when you open the restaurant are we all invited "over" to sample the food?
Good luck! I hope you are very, very successful!
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