Advice on opening a shop

[Addiesmum]

I am planning on opening a shop in brisbane in early 2012. I already run a small online business so I have some general business experience. Just wanting to get some advice from anyone who operates a shop or has before. When leasing a shop do you pay rent weekly, monthly or yearly? Can you choose or is it up to the real estate/ owner? I think I read somewhere that you need to take the lease to a solicitor before signing is that true? When they list a price it says not including outgoings, I figure that That would be electricity & water is that right? Due you get a electricity bill quarterly? Generally what would the electricity be for a quater in a shop approx 300M2 open 7 days? Can you do anything you like interially ie. Paint, walls, etc. I have a million questions lol. Any advice, answers or any kind of input would be awesome!! Thanks

[Me]

For leases 3 years and longer you now need to have them written up by a solicitor(landlords solicitor), then your own solicitor reads it over, makes suggestions and then when both parties agree the signed lease is lodged with both solicitors. As an approx it cost us just over $1100 to have our lease looked over etc just recently. Outgoings is rates, water, body corporate fees, etc etc. You can ask the agent for an approx figure - but ask on each property you are interested in as they can vary hugely! Electricity on out 360m2 property open 5 days is just over $1000/quarter. Rent is paid monthly in advance then add 2-3 months rent for your bond(or if you have a house you can get a bank guarantee and secure it against your property - but even if you're paying cash I suggest a bank guarantee secured by the cash as it takes the control of the bond out of the landlords direct hand - they have to apply to the bank to get access to it but in the meantime you earn interest on it - it's not much but better in your hand!).

Feel free to pm me if you have any more questions.

[DanceInTheRain]

Subscribing :D

[Addiesmum]

Oh thanks soooo much 'me' that was all very helpful in planning for next year. I will pm you shortly With a few other questions. : )

[Addiesmum]

Anyone have or know of how you secure the bond of a shop lease against your mortgage?

Any info would be great!! :)