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2 Months Deposit

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Hi Ive managed to get in touch with a shopping mall management for rent of their push cart. As I ...


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Old 27-10-2012, 02:54 PM   #1
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Default 2 Months Deposit

Hi

Ive managed to get in touch with a shopping mall management for rent of their push cart. As I am looking at rental for 1 year, they are asking for 2 months deposit. I am new to this, can i check if this is common?

They mentioned for 3 months, it will be 1 month deposit.

ANyone can advise?


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Old 27-10-2012, 10:06 PM   #2
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Default Re: 2 Months Deposit

Hmm, if you are new, why want to commit long term if short term is available? For 3mth rental, i believe is first right of renewal basis so you can still operate as long as you indicate your interest to renew.


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Old 27-10-2012, 11:32 PM   #3
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Default Re: 2 Months Deposit

Is the first right of renewal a common practice?
There's no mention about that.

I would like to reserve the site as it is very hot property.
Can't afford to lose the site after 3 moths.

So I suppose I have to pay 2 months deposit...


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Old 27-10-2012, 11:46 PM   #4
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Default Re: 2 Months Deposit

Deposit is usually 1 month's rental, its probably two months as you are renting for quite a lengthy period.

First right of renewal is common only for kiosks and shop spaces which has detailed contracts. Pushcarts is usually done on a first come first serve basis.


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