2 Months Deposit

PasseMarket · 27-10-2012, 02:54 PM

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?

tinytiny · 27-10-2012, 10:06 PM

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.

PasseMarket · 27-10-2012, 11:32 PM

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...

meinteel · 27-10-2012, 11:46 PM

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.

27-10-2012, 02:54 PM	#1
PasseMarket Junior Member Join Date: Sep 2012 Location: East Posts: 8 My Reputation: Points: 10/ Rep Power: 0	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?

27-10-2012, 10:06 PM	#2
tinytiny Senior Member Join Date: Mar 2009 Location: Tiong Bahru Posts: 252 My Reputation: Points: 10/ Rep Power: 16	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.

27-10-2012, 11:32 PM	#3
PasseMarket Junior Member Join Date: Sep 2012 Location: East Posts: 8 My Reputation: Points: 10/ Rep Power: 0	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...

27-10-2012, 11:46 PM	#4
meinteel Senior Member Join Date: Apr 2011 Location: Farrer Park Posts: 181 My Reputation: Points: 10/ Rep Power: 13	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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