Renting an old factory 🏭

Our use-case: renting an old factory

Alice and Bob want to enter a commercial lease agreement for a real estate object. It is a factory in an industrial area and commercial leases have almost no consumer protections as compared to residential applications. That means that the contract between the landlord, Alice, and the tenant, Bob, is subject to much more negotiation. Alice is long enough in the business to have experienced good & bad and that's why she established the practice to finalize the paperwork at the notary's office. Therefore Alice and Bob meet up at the notary's office to sign 2 copies of the leasing agreement and have them notarized.

important

We use a process that helps us to create a simple mental framework. This is necessary for modelling solutions and translating them into minimum viable products (MVPs). That's why we approach use-cases by organizing the given information into 3 categories:

1. Actors: Obviously this is aimed to answer the question: "Who is taking part in the system?". This becomes particularly important, when defining the governance of the solution.
2. Data: "What form or medium does the information take?"
3. Process: "What is are the business processes at hand?"

These are the very basic building blocks that help us to understand: "Which actors initiate processes that capture or transform data." Understanding this, we can follow and understand how and where value is created.

Actors

This is a pretty common setup for a two-party contract agreement.

Name	Role
Alice	Alice is in the real estate business and develops various properties. In her portfolio, she has a commercial property, an old factory, that she puts up for lease.
Bob	Bob is a talented entrepreneur and his business is booming. His garage is getting too small and that's why he has decided to move into an old factory.
Notary	The notary is responsible for various legal-paper-work in his municipality and enjoys a lot of business coming from the industrial complex. The majority of his daily business is to authenticate and witness the execution of lease agreements.

Data

Two paper copies of the same lease-agreement contract, the hand signatures of Alice and Bob, and finally the stamp of the notary.

Process

Step	Process
1	Alice & Bob meet at the Notary
2	Alice & Bob identify themselves with government issued IDs
3	Notary checks whether Alice & Bob understand the contract and resulting consequences
4	Alice & Bob sign 2 copies of the documents
5	Notary confirms validity by stamping the papers
-	Documents are notarized and legally binding 🤝

tip

If you want to learn in more detail about the steps a notary has to perform, you can read it up here.