2 Months Deposit
 

Hi

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

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

ANyone can advise?

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.

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...

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.