When you sign a commercial lease, it goes without saying that you have every intention of staying in the property as based on the terms and conditions of the contract.
However, there may come a time when you need to make a change. In this case, you could find it necessary to break your commercial lease. While this sounds easy enough, this isn’t always the case. Here’s why: The other party may not be as quick to let you out of the lease.
One of the best things you can do is plan for this in advance. So, before you ever sign the lease, get an idea of what you can use to your advantage if you need to break it before the contract expires.
Another idea to consider is negotiating with the landlord. Again, there is no guarantee that this will work, but it’s something to look into. If you’re able to offer favorable terms, such as paying some of the remaining rent upfront, you may find that you can move on without much of a hassle. A buyout is not always easy to negotiate, especially if you have a long period left on the lease, but it’s one of the best strategies to consider.
While you may not have the right to break a commercial lease, there are steps you can take to get out early if this is something you need to do. If you find yourself in this position, read your lease contract in great detail and consult with a legal professional that can help you understand your rights.
Source: Entrepreneur, “Getting Out of a Commercial Lease,” accessed Jan. 26, 2017