What To Know About Retail Make-Good Obligations
If you are moving your store out of its current retail space, then you might have to do some make-good work to meet the conditions of your lease. You will have originally agreed on what you would do to reinstate the space with your landlord when you signed your original agreement.
If you've never gone through this process before, then you might not be sure what to do next. Read on to learn more about how to manage your make-good obligations.
Don't leave your make-good work to the last minute. Commercial leases usually stipulate that you will have this work done before your agreement formally ends.
While some make-good agreements simply require you to remove your property, others have more time-consuming repair and restoration conditions. So, check your obligations early so that you leave enough time to do the work without breaking your contract.
Check Your Obligations
Check your lease agreement to work out what kind of make-good work you agreed to do. If you don't meet the final-stage conditions of your lease exactly, then you might have to pay damages to your landlord.
In some cases, this is an easy job. For example, if you simply have to remove detachable property and do basic repairs, you shouldn't need much time or money to get the property back in the right condition. Your time and financial costs shouldn't be too high if all you need to do is remove fittings and repair any damage to the walls.
However, some retail leases require more complicated restoration work. For example, a shop lease in a shopping centre might state that you have to defit your store completely and restore the space to a base building standard.
Here, you don't just remove your property. You also have to strip out the space to put it back into a bare shell. So, you might have to take out any infrastructural changes you made when you fitted out your store, such as plumbing and electrical work.
Bring In Expert Defit Contractors
Even a small move out of a store will take time and money. If you have committed to repairs, restoration, or defit work in your lease, then your costs will increase.
It pays to use experienced retail facilities maintenance companies to do this work. They can check the conditions of your lease and make sure that all necessary work is done to the right standard before your lease ends.
For more help, contact retail facility maintenance companies and ask about their shop make-goods services.