FAQ’S

FAQ

1. What type of space can I list or find on cu-cu?

Through Cu-cu you can list or find accessible commercial spaces to lease or licence from one day to one year.

– Empty space
A commercial property available to lease during pauses of rent

– Shared space
An underused space from an active commercial property (shop, workshop, window, pub, basement, office etc)

2. What is a space owner and a space user?

A landlord is someone who owns, works for a company that owns a property
A space sharer (listed as landlord in the App and website) has leased a property and has the right to sublet to another person
A tenant is someone who wants to use either a whole property or part of a property

3. Who is a space sharer?

In order to proceed as space sharer you can list a space within a property you are using. You should have the right to licence this space in order to proceed. Cu-cu may ask you for proof of ownership or tenancy. A tenant could become a space sharer.

4. Proposals and listings

The potential tenant lists a proposal (description should be shorter than 500 words including spaces). This is something that he or she wants to do in one specific space. The landlords or space sharer lists a vacant or shared space with all the required data. At that point he or she agrees to a meanwhile lease/license.

5. Matching

Cu-cu matches profiles from landlords (and space sharers) and potential tenants from data collected in their listings.

6. Acceptance and chat

The landlords (and space sharers) can accept, refuse or ask for more information about a Proposal. If asking for more information or to accept a proposal the space owner will propose viewing dates or ask more questions to the space user through the app chat.

7. Agreement

Once agreed, both the space owner and the space user can sign the agreement online via Cu‐Cu. Formal copies will be emailed to the landlord (and space sharers) and tenants for reference. Cu‐cu supplies a lease or license to the landlord (and space sharer) when listing the space.

8. Space Fees. What does the space fee include?

Cu-cu is for landlords, tenants and space sharers to save costs of vacant or underused space.

We don’t encourage high rents as this goes against our ethos of accessible and affordable spaces.

What does the shared space fee include then?

A tenant for a shared space will never pay more than 50% of the market rental value of the full commercial space. This will include Business Rates, utilities and extra fees described below.

What does the empty space fee include?

The empty space fee is the sum of business rates, utilities and an extra fee. The extra fee can be no more than 50% of the market rental value of the property. Business rates and utilities may be paid separately or as part of the space fee.

Business rates

In a similar way that residents pay council tax, businesses pay business rates to local authorities, which help finance local services. The property occupier, either the owner or the tenant, pays the business rates. Find out more about your benefits and savings as a landlord contacting properties@unlimitedmeanwhile.com with your specific questions.

How to calculate business rates?

Multiply the rateable value for your space with a ‘multiplier’ set by the government to estimate your business rates. Follow the link for further information:

https://www.gov.uk/calculate-yourbusiness-rates

Option for leases over 1 month: Space owners may opt for tenants to pay the business rates bill direct to the local authority or uses over 1 month.

Utilities

The main bills associated with running a property usually include gas, water and electricity but could also include wi-fi, waste or rubbish collection. There may also be a contingency allowance for emergency callouts for locksmiths, window or shutter repairs, boilers or blocked drains.

Option for Monthly leases: space owners may opt to include these costs for payment within the App or have the tenant pay them direct to the service provider.

Extra fees

Other costs may include service charges, buildings insurance, administration costs and contributions to Business Improvement District levies.

Restrictions: The extra fee of the space will be monitored to ensure it does not exceed 50% of the market value of a space.

9. How does the deposit work?

The Deposit and first payment must be paid to Cu-cu on the day the agreement is activated between the space user and the landlord (or space sharer). Cu-cu will remit the deposit and the first payment to the space owner.

The landlord (or space sharer) holds the Deposit as security against any loss incurred due to negligence by the space user in breach of the agreement between them. The space owner must return the deposit within 14 working days from the day the agreement ends subject to inspection of the property by the landlord (or space sharer).

10. Attachments (photos and floorplan)

Our agreements do not include attachments. Even though they refer to photos and floor plans listed in Cu-cu. Cu-cu will keep track of photos and images related to agreements so they are recoverable in case a profile is changed.

11. How we use your personal information

We only use your personal information in accordance with our Privacy Policy, visit our privacy policy link on web and App. Please take the time to read our Privacy Policy, as it includes important terms which apply to you.

11. Use of our site

Your use of our site is governed by our Terms of website use and Website Acceptable Use Policy. Please take the time to read these, as they include important terms which apply to you.

12. Before entering a space

Space users must have public liability insurance and may need employers liability and contents insurance.
It is your responsibility to know what you need and by agreeing to the Terms and Conditions and terms of website use you absolve Cu-cu of this liability.
It is your responsibility to ensure you comply with all health and safety procedures explained to you by the space owner, and all statutory requirements.

12. What happens when a lease or license lasts more than six months? What is the Exclusion of the 1954 Landlord and Tenant Act?

When a lease or license lasts more than 6 months certain rights are given to the space user, which is known as security of tenure and allows tenants to remain in a property after their lease expires. It is normal for all temporary leases to exclude security of tenure and the legal term is exclusion from the 1954 Landlord and Tenant Act.

It is a legal requirement to wait 14 days between serving the notice to exclude security of tenure and signing the lease or license. Cu-cu will provide space owners and space users with the statutory terms of exclusion for both tenant and landlord to sign. After 14 days they will be able to proceed with the agreement. It is possible to reduce this time by visiting a solicitor who can witness a statutory declaration.

13. Cu-cu fees

Tenant
1. One off additional 2% (+VAT) on top of the lease/license fee
Landlord and space sharer (applicable from 31st January 2015)
2. One off 10% (+VAT) on top of the lease/license fee

Space owners need to create an Stripe account when listing a space
Cu-cu payments are processed by Stripe accounts. In order to proceed with a payment in Cu-Cu App or website space owners will need to set up a stripe account. Stripe is a secure payment provider. Secure interaction with Stripe servers keeps your data safe. More information at https://stripe.com
Stripe charges 2.4% + 20p per successful charge to Cu-Cu

15. Cancel your agreement

1. Cancellation of an agreement can only happen one month in advance of the agreement starting, if later the space user will forfeit the deposit..
2. In the event a space owner cancels a confirmed agreement before the space user enters the space a cancellation fee will apply.

Useful resources
Government Planning: http://www.planningportal.gov.uk/permission/commonprojects/changeofuse/