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Updated about 12 years ago on .

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1
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Trish Martin
  • Melbourne, Victoria
0
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1
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What on earth is a 2x2x2?

Trish Martin
  • Melbourne, Victoria
Posted

Hope you all can help, I've googled myself silly but can't find ANYTHING!!
Feeling so stupid right now.
I've applied for two commercial rental properties, it all sounds logical and I thought I knew what it meant but now I'm confused by people saying different things.
Can someone clear up what a lease term of 2x2x2 is please?

I was under the impression you are signing essentially a 2 year lease, and you have the option after two years to get out of the lease, or sign on for another two years.
They also have the option to boot you out after two years, or sign you on for another two.

But now I've been told I'm signing on for 6 years and it's up to them what they want to do each two years, I have no say but to stick it out for 6 years?

Ahh so confused.

First commercial rental so hoping someone can explain this to me in 'I don't understand real estate terms' english haha

Cheers guys

Trish