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gjd
June 16, 2009, 10:29am Report to Moderator

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Well, I have cracked and put this ad up on Kijij looking for a commercial space 50 - 50 split. To be honest, the first guy that responds positively, I am going to take it. I don't want to wait any longer to get this thing going, and I have had a few offers in the past to do a similar deal. One is quite nice, but it is 140 km's from Toronto ( Flesherton). I will keep you all posted as to the outcome, but I have a positive outlook on what will materialize. We do have a permanent location in mind, but it will take at least a year of negotiating wth the federal government to get it, so like they say, no time like the present, 50% of something is better than 100% of nothing, blah blah.
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MarkToo
June 16, 2009, 12:43pm Report to Moderator

Marge, the door blew shut.
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Although you are likely aware of all this...make sure when signing a deal, you have someone familiar with commercial real estate (or your lawyer), look it over for you, as you can get blindsided by common fees and taxes etc., if it's not specifically laid out.  You may find your 50% evaporated with expenses, and the landlord gets someone (you) to pay the upkeep and taxes on his vacant building - not to mention his cut of your revenues on top.  Property owners used to pay the taxes, but tenants do now - for commercial space.


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gjd
June 16, 2009, 12:52pm Report to Moderator

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Quoted from MarkToo
Although you are likely aware of all this...make sure when signing a deal, you have someone familiar with commercial real estate (or your lawyer), look it over for you, as you can get blindsided by common fees and taxes etc., if it's not specifically laid out.  You may find your 50% evaporated with expenses, and the landlord gets someone (you) to pay the upkeep and taxes on his vacant building - not to mention his cut of your revenues on top.  Property owners used to pay the taxes, but tenants do now - for commercial space.


I hear you..loud and clear. Idea is a 50 50 after all expenses, like taxes, hydro( A big one), maintenance, etc. I am eager to get going, but not eager enough to get back doored by some gypsy landlord, and there are a ton of them in Toronto!
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