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TOPIC: Leasing question

Leasing question 04 Jul 2009 09:18 #31793

  • movielover
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I am on a committee that ownes our 2 screen small town theater. After 8 years our lessor is leaving and we will be looking for someone else. We will be looking over the old contract this Thursday night and will make some changes. We own all the contents of the theater but the repair on those things really puts a bind on us. Is there a lessor out there that can answer some questions? We (the town) are not trying to make money on this theater. We just want it open for the community.
Thank you.
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Re:Leasing question 04 Jul 2009 17:49 #31794

  • dnedrow
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I imagine there may be some lessors here. What questions do you have? They may be something that even us lowly lessees could answer. ;)
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Re:Leasing question 05 Jul 2009 08:15 #31796

  • movielover
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Like I said, we own the contents and when something breaks we pay for the repair. The reason is the last lessor never changed the filter on the air conditioner and we had to buy a new unit. A few months ago the projector broke and we paid 2,000. Neon lights were broke because they didn't change the letters on the markee right. Should we ask the lessor to pay, say the first $200.-$500. of the bill? Our thought is if they have to pay a part, they will take better care of things.
Last Edit: 05 Jul 2009 08:18 by movielover. Reason: left something out
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Re:Leasing question 05 Jul 2009 12:19 #31797

  • rodeojack
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This sounds simply like the wrong tenant for your building. Either they don't have the drive to take care of your property or you didn't make your expectations clear, in writing.

The last lease I had, where equipment was part of it, was very clear that repairs were my responsibility. I could replace the machinery if I wanted to, but if I disposed of the original equipment, my replacements became part of the building. If I expected to leave with my gear, the theatre's machines had to be stored in the condition I found them in... nothing unusual or out of the question about that.

In your case, I think you should make repair and maintenance issues clear in your lease contract, including the ability to inspect your property at any reasonable time. You should be comfortable that your tenant understands this. Finally, you should be comfortable that your tenant has the financial capability and desire to take care of your property. These may be the two places where you've given your relationship the ability to go wrong. A suitable deposit might also be in order, if you haven't already done that.

As for the filters... nothing says you can't apply an average maintenance "surcharge" to the lease, then have your own contractor take care of the heating system.
Last Edit: 05 Jul 2009 12:21 by rodeojack.
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Re:Leasing question 05 Jul 2009 15:43 #31801

  • rufusjack
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I am bit confused: Did you lose your tenant/lessee? (you mentioned Lessor)

A typical clause in a lease that I fine decent is for any repairs to HVAC, Electrical/ etc over $500 is the responsibility of the lessor. That seems to be a good incentive for the tenant/lessee to change filters.

If you have equipment that you know needs regular maintenance like projection equipment, I would stipulate that the equipment will be serviced every xx months with the the cost to be born by the tenant. The lessor will arrange for the servicing and pay for it and add the cost to the lease payment.
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Re:Leasing question 06 Jul 2009 20:22 #31809

  • Mike
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We had tenants and we provided the heat: they left the windows open in the Winter. They now pay heat and I don't see any open windows. It sounds to me like you have an arrangement that rewards slobs and slackers. It's the towns stuff: protect it. There must be 1000 ways for a town attorney to write this to insure the equipment and building is kept in good repair. A service contract with ac, booth, concession, etc. Inspection clauses. Etc. Put it in writing. What state are you in?
Michael Hurley
Impresario
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Re:Leasing question 06 Jul 2009 21:03 #31810

  • revrobor
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Hello movielover:

Help me out here. Are you looking for someone with experience to lease and run the theatre?
Bob Allen
The Old Showman
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Re:Leasing question 06 Jul 2009 21:08 #31811

  • movielover
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Mike, you are right about our lessee, and we let them take advantage of us. We don't want to make the same mistake again. In last contract it wasn't clear about the content of the theater. We have a meeting tomorrow night to iron out a new contract. I am in Texas.
Any more info about what should be in the lease I would greatly appreciate!
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Re:Leasing question 06 Jul 2009 21:20 #31813

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movielover wrote:
Mike, you are right about our lessee, and we let them take advantage of us. We don't want to make the same mistake again. In last contract it wasn't clear about the content of the theater. We have a meeting tomorrow night to iron out a new contract. I am in Texas.
Any more info about what should be in the lease I would greatly appreciate!

You should make it clear to the leasee that they are responsible for the maintenance and repair of all equipment and the replacement of any that is damaged beyond repair by improper or careless use. You should be responsible for replacement of any equipment that wears out from normal use. It's not often that a leasee can walk into and run a fully equipped theatre. And you should make sure that all equipment is in good working condition before you lease it.
Bob Allen
The Old Showman
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Re:Leasing question 06 Jul 2009 21:30 #31814

  • movielover
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Revrobor, We will be looking for someone to lease and run the theater. Experience? That would be great.
The question I have is about the new contract we will write up when we lease it again.
I am sure this is clear as mud.:laugh:
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Re:Leasing question 07 Jul 2009 14:22 #31823

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North, east, west, south or central Texas movielover. After all that state takes up about half this country :laugh:
Bob Allen
The Old Showman
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Re:Leasing question 07 Jul 2009 16:02 #31824

Where in Texas are you located?
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Re:Leasing question 07 Dec 2009 06:22 #32937

  • StatZer
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Last Edit: 07 Dec 2009 06:22 by StatZer.
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Re:Leasing question 11 Dec 2009 08:33 #32978

Is your theater still for lease?B)
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Re:Leasing question 02 Mar 2010 17:12 #33478

  • LOUBIGNAME
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Yes, It is still for lease .
Are you interested in viewing it?
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