Leasing Vacant Restaurants
Contact Penthouse Advisors INC. To represent you.
No fee. We handle vacant, equipped, second-generation restaurant leases and protect you from unlawful key money demands and hidden charges.
NO FEE representation
Vacant, equipped, second-generation restaurants are lease-only deals. Property owners are not in the business of selling used restaurant furniture, fixtures, and equipment. Plus, the Health Department deems such equipment worthless if it does not display visible labels: NSF (Sanitized) or ETL (Listed).
Restaurant tenants before vacating the premises can sell the “non-attached” FF&E (furniture, fixtures, equipment) as key money while still holding legal possession under a lease.
Key money is illegal.
It is basically illegal for property owners or their hired hands — called real estate agents — to collect “key money payments,” defined as any demand for payment beyond lawful rent and security deposits as a condition for initiating or renewing a lease, or to prioritize a tenant’s application. Key money is often an “under the table” payment, which is against California and federal law.
If a property owner wants to charge for items left in the unit, it must be included in the written, lawful lease agreement and cannot be demanded as a precondition for renting. Leases should include language and instructions about personal property in the unit.
Property owners may be liable for actual damages in a civil action. They are also prohibited from charging extra fees such as:
- Paying rent or security deposits by check
- Serving and posting 3-day Pay or Quit notices on front doors
- Any charge beyond lawful rent and security deposits
prior to filing a UD (Unlawful Detainer).
Lease a Vacant Restaurant
Tell us about the space or your search. We respond same business day.