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Ash
Ash, Solicitor
Category: Property Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
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I reserved office space at the Kinetic Centre Borehamwood in

Resolved Question:

I reserved office space at the Kinetic Centre Borehamwood in October 2014 with a deposit of £1100.
As agreed with Kinetic we were not in a position to move in or able to pay the rent for the following 3 months.
They agreed to accept £1100 as deposit to hold the office space for 3 months on condition that I sign a 12 month contract and then begin contract from Jan 2015.
We have had a client not pay his debt to us and has left us with a short fall in our cashflow, in December 2014, hence the reason we were unable to proceed with office space in Jan 15 as agreed.
The Kinetic is now asking us to pay a minimum of 3 month’s rent, for them having to reserve the office therefore I am contacting you to see if there is any way out of this as:
• although I signed the contract, we haven’t moved in
• they already have 1 months money of £1100
• they agreed to waive the 3 month’s rent if I signed the 12 month contract
i would like to know if there is a way out of this?
Submitted: 1 year ago.
Category: Property Law
Expert:  Ash replied 1 year ago.
Alex Watts :

Hello my name is ***** ***** I will help you with this.

Alex Watts :

For now please let me know what the terms of the contract say about cancellation?

Alex Watts :

Thanks. I have read the contract and its bad news I am afraid.

Alex Watts :

The contract actually says technically you are liable for the WHOLE 12 months

Alex Watts :

In any event it says that you must give 3 months notice with a minimum rental period of 1 month

Alex Watts :

Based on this, the fact they only want 3 months is quite good. As you are liable for 12

Alex Watts :

I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest

Alex Watts :

Can I clarify anything for you about this today please?

Customer:

They have already taken 1 months deposit of £1100, so in theory does this count towards 3 months? and also they state on their email that they require a minimum of three months or until they have re let the office space, how would i know when they have done this?

Customer:

i also want to know that as managing director of a ltd company, am i liable for the debt

Alex Watts :

No you are not liable, only the Company is

Alex Watts :

Does that clarify?

Customer:

i have heard that sometimes a managing director of a ltd company can be held responsible if company cannot pay its debts, is that only if they guarantee the debt?

Alex Watts :

Only if there is a personal guarantee you have signed. Unless you have done this, then you are not liable

Customer:

In reading this part of the contract does this make me liable?

6.11 For the purposes of this Agreement the signatories to this Agreement agree that they are acting as both employees and agents for the
Client and hereby agree to immediately provide personal guarantees on request to cover the Clients due debts with the Company should
Client payments become more than 14 days overdue.

Alex Watts :

Hold on

Alex Watts :

Guarantees on request.

Alex Watts :

They have not asked you to become a guarantor.\

Alex Watts :

Therefore you cant be personally liable

Customer:

thanks you havent answered a previous question: They have already taken 1 months deposit of £1100, so in theory does this count towards 3 months? and also they state on their email that they require a minimum of three months or until they have re let the office space, how would i know when they have done this?

Alex Watts :

In theory yes. But they could ask for 3 months, once you pay it, give your deposit back

Alex Watts :

They should be honest and tell you if they have re-let or you can visit every few weeks just to see for yourself

Customer:

OK thanks. If i have any more questions can i step into this chat agian?

Alex Watts :

Sure. Even when you rate the question remains open, although the site may give a different impression

Alex Watts :

Can I clarify anything for you about this today please?

Customer:

Ok, thanks for your time

Alex Watts :

Great. If I could ask you to rate my answer before you go today, the button should be at the bottom of the screen

Alex Watts :

If you need more help please click reply

Ash, Solicitor
Category: Property Law
Satisfied Customers: 10915
Experience: Solicitor with 5+ years experience
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