Why should I list my space on LiteStore®.in?
We connect you to many brands on the lookout for short term retail spaces. We provide you the opportunity to create revenues during vacancies, increase discovery & exposure to brands We assist you in enteringinto risk-free simplified legal agreements.
Do I get any complimentary services for listing my space on LiteStore®.in?
Yes. Currently, listing your space on our platform is completely free. Apart from that, we provide quality branding through our high quality photography.
How will listing my space on LiteStore®.in affect long term leasing/other business ventures?
You remain in full control of your property at all times, and retain the right to market it via your existing leasing channels. At LiteStore®, we provide you an extra avenue to discover many brands & retailers and generatemore revenues. No exclusivity is required.
Can this work while the pandemic is ongoing?
In the midst of the pandemic, retailers and brands are on the constant look out for flexible stores to minimize their financial risk. For every landowner looking to make lemonade from lemons, your otherwise unused space, can be used by a Brand to build their business, while you get to earn additional revenue from it
Who controls my space after it is listed on LiteStore®.in?
You will continue to hold complete control over your retail space. The landowner has complete control over deciding the price, duration and the ground rules, provided they meet the guidelines/rules for listing on LiteStore®.
How do I list my space on LiteStore®.in?
Listing your space involves just 3 steps! Step 1: Open LiteStore®.in Step 2: Click on List a Space Step 3: Just fill in the form! Our team will get in touch and assist you with the listing. You can mention any extra rooms, details or any facilities attached to the space. It's completely free to list a space!
What happens after I list my space on LiteStore®.in?
We will assign you a Realty Partner who will conduct a standard due diligence of your property within 24 hours of reaching out to us. We will require you to give an assurance that the property is safe and there areno major leaks, repairs or electrical faults. However, even if your space is in a shell state, don't worry! You can avail our LiteStore® Services to ensure that your space looks presentable. Get in touch with our team to know more.
Can a prospective Brand visit my space before booking it?
Yes. The Brand can request for either a virtual tour or a physical tour of the space. Our team will ensure that we facilitate the visit at your convenient time.
What is the minimum duration for offering my space to brands?
There is no minimum duration for listing your space. You can offer your space for a day, a week or a month!
What is the maximum duration for which I can offer my space on my platform?
The maximum duration for which you can offer your space on our platform is 3 months with an option of 'extend listing' in accordance with our terms and conditions.
What is the Landowner dashboard?
Landowner dashboard is a technology service that we provide to manage your portfolio, bookings and get real-time data of viewings & demand of your space. The linking of your bank account will also happen on this portal.
Can I offer my space to more than one brand at the same time?
Yes! Part of LiteStore®'s unique offering is to house multiple Brands in the same store. This creates a diverse and exciting experience for the customer. At the time of listing, you can decide whether you want to offer your space to multiple brands at the same time.
Will my business transaction with the client create any security/right/ownership over the space for the retailers/brands?
No. Our legal agreements ensure that no security/ right/ ownership is created in favour of the Brands.
Who am I entering into a contract with?
You will enter into a contract with each Brand that makes a booking. This will include the Usage Terms determined at the time of making the booking. LiteStore® merely administers this with our online leasing system. This is in addition to the Listing Terms you must agree to at the time of listing your space on LiteStore®.in.
Can I make changes to the contract as per my considerations?
To ensure that brands and retailers have a standardized experience through our platform, both the Landowner and the brands will be entering into a standard agreement which will cover all the potential legal risks. Any terms which are unique to a particular booking may form part of the Usage Terms agreed upon at the time of confirming a booking, provided they are in accordance with our terms and conditions.
How will the agreement be entered into?
(Step 1) The Brand accepts the LiteStore® Terms of Use/License Agreement at the time of making a booking -> (Step 2) Additionally, the Brand fills in information in the Usage Terms (terms which are unique to each booking such as duration, nature of goods/services/ nature of use etc.) -> (Step 3) LiteStore® will send the proposed Usage Terms to the Landowner who must confirm within 24 hours -> (Step 4) Once confirmed, the Landowner and Brand are bound by the Terms of Use/License Terms and the booking is complete with a quick digital sign by both parties. The Brand will make the payment on our website. -> (Step 5) Brands open their store!
What happens if the Brand causes damage to my retail space?
From our end, we conduct due diligence regarding the credibility of the Brand. By virtue of entering into the agreements at the time of booking, they are obligated to not make any structural alterations and are requiredto return the space as it was when they booked it. However, in the unfortunate event that there is any damage to the property, we will cover the cost of repairs.
Will my space be safe from squatters? What if a brand refuses to vacate the space?
When a brand makes a booking on the LiteStore® platform, they are only granted permission to use the property temporarily. If a brand exceeds the checkout time, they will be liable to pay a penalty fee to the Landowner atthe rate of double the daily cost of booking the space for each day of loss to the Landowner. LiteStore® will assist the Landowner in ensuring that Brands check out of the space on time and recovering the penalty fee.
Can the Brand sub-license the space to other brands?
The Brand cannot sub-license the space or share it with any other brand. They only have the Right to Use the space for the brand and the purpose as agreed upon in the Terms of Use with the Landowner.
Can I charge any amount for the space?
You can decide the booking cost for a day, a week and a month on your dashboard. In the event, the Brand is looking to book for a duration outside the standard framework of a day, a week or a month, our smart pricing technology will instantly generate a pro-rata amount by accounting for variables such as number of weekends, holidaysamongst others to generate a fair market value.
Can I change the amount I have entered for my space?
Yes. You are allowed to change the amount as many times you wish on your dashboard. However, once a Brand has made an offer or a booking has been confirmed based on a listed price, you are not allowed to change the amount. However, this is not applicable for extended bookings made on our platform.
What should the booking fee that I charge include?
Your demanded booking price must be an all-inclusive amount. It should include all utility charges (such as electricity, water, security, wifi and any other facility provided) along with any maintenance charge that willbe used for the specific duration. You are strictly not allowed to charge any amount after the booking has been confirmed. Consult our pricing strategy team to fix the market value by reaching out to us at support@litestore.in
How will I receive my payment?
You will receive the amount within five business days from the day the Brand occupies your space. The amount will be credited through online transfer to the same bank account you would have provided at the time of registration.The payment is strictly done without the involvement or interference of Litestore
Where will I get an invoice for my booking?
You can download your invoices instantly from your dashboard on our website.
Will I receive the entire payout at once?
The payout schedule as per our standard contract is that for any bookings until 8 weeks, the Brand will make a one time payout that will be credited to the account of the Landowner within five business days. If the booking is for a period of more than 8 weeks, the payment can be made in tranches.
How much does LiteStore® charge?
Listing a space through LiteStore® is completely free including discovery and photography. We charge a 12% service fee for a successful booking.