No Rental Agreement - What Are The Pitfalls?

[Wishes]

Friends of mine have took on a commercial unit on a street in Dublin that seems to be hit quite badly by the recession; To Let signs up everywhere and landlords advertising their own shops. The landlord has not asked them to sign a rental agreement.

What are the pitfalls? I presume he can put them out whenever he feels like it?

 

[oldnick]

As a landlord of a shop in D.1. and ,at the same time , as a tenant of a shop elsewhere in Dublin I can state that the lack of agreement can adversely affect the landlord more than the tenant.

Perhaps ,as you say,the landlord can put them out at any time -but equally your tenant can walk away any time business is bad.

At present- and I suspect for many years to come - it is far more likely that the tenants will walk away rather than the landlord throw them out; as you say, there are loads of empty shops around.


All across the country there are thousands of tenants of retail premises who wish they had no written agreement -and there are loads of landlords who are glad they have.