I would too. They are in the business of handling that kind of thing.

Goldbug wrote:

FrankN wrote: That is what I was saying as well. If you determine a length and do not want to continue it after the agreed upon length, you do not have to renew the lease.

If you are concerned about the admin for managing leases or tenants, you can always contact a property management company to handle the land for you. They will take a fee, but if you are quite specific about the time frame, they can make sure the business knows it will have to leave on a certain date and have the legal experience to back it up. You might find that letting the land is a profitable venture in its own right!

Good idea Goldbug. Just keep in mind that the handling company will charge a fee for managing the property. I would consider that well worth the money but some may not.

FrankN wrote: That is what I was saying as well. If you determine a length and do not want to continue it after the agreed upon length, you do not have to renew the lease.

If you are concerned about the admin for managing leases or tenants, you can always contact a property management company to handle the land for you. They will take a fee, but if you are quite specific about the time frame, they can make sure the business knows it will have to leave on a certain date and have the legal experience to back it up. You might find that letting the land is a profitable venture in its own right!

I agree it should almost be treated as a bonus. Save whatever you are making and do not use it for discretionary purposes.

If the business at the rented place is growing well and active, I think it can actually become a good investment model. We probably shouldn't depend on it much, though over time the income may be enough to find yourself a new place for your own business.

That is what I was saying as well. If you determine a length and do not want to continue it after the agreed upon length, you do not have to renew the lease.

Couldn't you also just refuse to renew the lease? Maybe that's what you meant, Frank (apologies if I misunderstood). I don't see how they could fight it if the lease is up and there is no option to renew.

You can also set a term in the lease so they would have to leave after a certain period of time.

One way out of a situation like this is to make improvements on it and re-sell it. Flip it. That practice isn't limited to personal housing.

6/17/2009

hello all, my brother purchased some land in market area but due to lack of funds he is not able to start this own business.now he is thinking of giving the area on rent but we have heard that its a hassle to get the place vacant when you need it in future.The shopkeepers never agree to shift there well settled business.
can you suggest something?