Leasing of warehouse ( 5 owners to single lessee )

ARUN JOGALEKAR (Querist) 27 May 2013 This query is : Resolved
Dear Sir,

We have a warehouse property, of 10000 sq feet, comprising 5 units of 2000 sq feet each. The warehouse is not divided by walls in between,so, that it can be leased to a person looking for 10000 sq feet usage ,without any barriers.
The tenant wishes to enter into a single agreement, and not 5 agreements ,with five different owners for this warehouse.
Please advise, any simple solution to resolve, this.

Thanks for your help in advance.

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ajay sethi (Expert) 28 May 2013
you can afford legal fees .when you are owner of 10,000 suare feet of commercial space why dont you engage a local lawyer

ARUN JOGALEKAR (Querist) 28 May 2013
Thanks for your valuable advise.

Raj Kumar Makkad (Expert) 28 May 2013
If the property is owned by 5 different owners then a single agreement is not advised.

H.M.Patnaik (Expert) 28 May 2013
I completely agree with the Experts advice . Only when
the property in question is held by joint owners, then a single lease agreement would suffice.

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