Sally is not happy with Luke for crashing their brand-new Tesla. The car only appears to need minor repairs but was bought for the purpose of having a ‘safe’ vehicle for their baby on the way. Time is of the essence as Sally’s due date is approaching

 

Luckily for Luke, his father Steve owns a car repair business. He gives his father a call and is told he can bring the car in right away.

 

Steve feels terrible when his son brings in the brand new Tesla, which appears to be falling apart at the front. He takes a closer look and is relieved, it really is only a few repairs which are needed. He often gives discounts to his family but decides he will do this for Luke free of charge, seeing as him and Sally have a baby on the way and are under a lot of stress.

 

He has been under a lot of stress himself with work as the lease has just run out on his car repair yard. He has leased the property for the last 5 years without any issues. He was friends with the owners and would often invite them for drinks and barbecues, and had no concerns that he would be able to lease for another term. When he found out that they had sold the property to new owners, Steve had noticed no difference at first, as the lease was still in effect with the current terms.

 

As the expiry date was approaching, Steve had gone to the new owners and advised he would like to continue the lease for another term of 5 years. The new owners advised Steve that he had no right of renewal and the lease had expired, but they would provide him with a new lease to sign on their terms. Steve received the new lease and read through it, but he did not like the terms as they were fundamentally different to the original lease.

 

This left Steve with the following options, and just as many concerns:

1. Accept the new terms and sign the lease – Steve had signed the original lease five years ago without properly looking through it, or understanding it. He had been friends with the landlords and hadn’t anticipated them selling. He should have ensured he had options to renew so he would have more security of this property.
2. Find a new premises – This is not ideal for Steve. His current premises is right in town and only a five-minute drive from home. However, he is aware that he has not even looked at what other opportunities may exist. His business has expanded a lot in the last few years and this could give him an opportunity to find a property with more room and potentially grow his business even more
3. Negotiate with the new landlords. If they are unable to find other tenants while Steve is able to find more premises, he will have more bargaining power.

 

Steve sighs as he begins fixing the Tesla. He will search online tonight for available commercially leased properties. He vows to take any new lease to his solicitor before signing to avoid future stress.

Macayla Brdanovic