Good morning, What advise I can suggest is first you should have assignment rights, as a safety. However, you guy are missing the smaller time frame sentiment or picture. You have a lease, but those underneath you should not. Rather, since they are YOUR BUSINESS MODEL clients and "MEMBERS" you should award them with twelve (12) month license agreement-renewable of course.
Hear is the logic and also I do this with my bldg and coworking members & it works well. Do as such you then skip having to pay your LL extra rent and constantly have to approve sublet that is crazy. Which is also direct conflict of interest to your model amd inital lease usage. You can call me direct I am also a NYC commercial broker so I know some things. Thank you, Morgan. Never set a goal without attaching a timeline to it. To breathe life into a goal you must attach a precise deadline to it." - Robin S. Sharma m. 917.504.9180 | f. 917.591.1917 | bbm.7EF58010 On Sun, Jun 10, 2018, 11:26 AM Pat Manley <p...@manleyllc.com> wrote: > Hi Brian, > > What is your concern regarding the “no assignment” clause? > > Pat > > -- > Patrick W. Manley, RA, AIAA, ALA > Manley Architecture Group/MAG > 3820 North High Street Columbus, Ohio 43214 > Ph: (614) 545-1147 > Cell: (614) 496-9096 > Association of Licensed Architects (ALA) > www.manleyarchitects.us > Past President, Ohio Chapter of the Association of Licensed Architects and > ALA National Board of Directors > > On Jun 8, 2018, at 7:32 PM, Brian Burgett <br...@brianburgett.com> wrote: > > Hi all, > > This is such a great resource! Thank you! > > I am working on opening a coworking space in northern Cincy. > > I have been working hard on getting a great lease put together. I > absolutely love the space. We are the landlords first coworking tenant. > They are pretty excited about having us join. The problem is that they have > a pretty standard lease and it includes a non-assignment clause. They agree > it doesn't fit. It states they have to approve any sublease agreements (my > attorney says it could apply to our type of business). It also states that > any sublease rent we get over the lease amount goes to the landlord. The > landlord has asked my attorney to come up with a better clause. > > Can any of you who have signed a lease for a coworking space share the > terms you have laid out in your lease on this issue? I would think I need > to include that I have sole discretion to sublease and assign. It may > include a description of how we make money? Am I missing anything? > > Thank you all for the great conversations we have on this group! > > > > Best regards, > > Brian Burgett > > > > > > > > Create your own email signature > <https://www.wisestamp.com?utm_source=promotion&utm_medium=signature&utm_campaign=create_your_own> > > > > > > > > > -- > You received this message because you are subscribed to the Google Groups > "Coworking" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to coworking+unsubscr...@googlegroups.com. > For more options, visit https://groups.google.com/d/optout. > > -- > You received this message because you are subscribed to the Google Groups > "Coworking" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to coworking+unsubscr...@googlegroups.com. > For more options, visit https://groups.google.com/d/optout. > -- You received this message because you are subscribed to the Google Groups "Coworking" group. To unsubscribe from this group and stop receiving emails from it, send an email to coworking+unsubscr...@googlegroups.com. For more options, visit https://groups.google.com/d/optout.
