• Don’t Forget To Look at This in Your New Business Lease

Don’t Forget To Look at This in Your New Business Lease

I have recently heard of tenants entering into leases without first undertaking investigations of what Internet services will be available into the premises they will be leasing.

I have never seen in a lease document any assurance from the landlord as to what Internet services will be available to the premises. Tenants most likely will take for granted that the premises will have available whatever Internet services they need.

For those businesses that rely upon connectivity to the Internet for their ongoing business may find themselves faced with disaster if their premises to which they have committed to for long-term lease does not have the connectivity they require.

My own Internet provider has told me of a client they have who moved premises only to find that the Internet that was available was no better than domestic ADSL and for the client to have the Internet connectivity they required Telstra quoted them any excess of $30,000 to have fibre optic cable installed.

Before any tenant commits to an agreement for lease they should undertake due diligence and speak with their Internet service provider as to what Internet services are available to the premises.

Below is a link to a podcast with Stuart Auld from QCS who would will discuss what tenant should look for in premises technology wise before they commit to a lease.

 

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