What is a tenancy agreement?
January 30, 2018
An agreement between you and the Landlord from whom you rent your property.
Choosing the agreement type that best suits you can be a little over whelming. Here we summarize everything you need to know about a typical tenancy agreement.
|Deposit/Bond||Usually about 25% of rent. Held against arrears on account. Returned within 28 days, subject to account being cleared and dilapidations being rectified.|
|Fixtures & Fittings||Costs should be on valuation via an independent valuer. Possibility of renting can be negotiated.|
|Maintenance||Rule of thumb – Pub Co. responsible for structure of building. Tenant responsible for internal repairs.|
|Running Costs||Responsible for all running costs of the business.|
|Contractual Payments||Rent, Service Charge, Building Insurance, Insurance for personal effects, Stock, F&F Public Liability Insurance, Employers Liability Insurance.|
|Tie Status & Purchase Obligations||A Full Tie purchase all draught and packaged soft drinks, wines and spirits or Partial Tie may be available dependent on agreement with individual Pub Companies.|
|Fruit Machines, Quiz Machines & Jukeboxes||Arrangements are made on a pub by pub basis dependent on agreement.|
|Business Assistance from Landlord||An area manager (actual titles vary between Pub Co’s) will be assigned to you to support you. Many Pub Co’s have inhouse training courses and on-going professional development opportunities to help you grow your business and become more successful.|
Tenancy agreements can differ slightly between the different Pub Companies. Give us a call for further information and we will be happy to discuss all of the agreement types currently available today.