Anyone familiar with a commercial property lease will know rents and other payments are likely to be set out as payable on quarter days throughout the year I.e. 29 September, 25 December, 25 March and 24 June.
It is known that in Middle Ages these significant dates were used to ensure no debt rolled on (it had to be settled) and lawsuits were concluded. A reckoning was made and was publicly recorded on these dates.
"Now, thankfully, tenants are simply expected to pay rent on these dates, without such a public reckoning!!!!”.
An Estate Agent will give a price they anticipate a buyer would pay for your property given current market conditions. This is not an exact science and therefore established local agents who know the market – are worth their weight in gold.
Things to consider when you are looking for your first commercial property.
Things to consider when letting your commercial property, if this is not for you then our property management department would be delighted to help.