Breaking your lease is a serious decision that requires you to be fully informed of all the consequences. Consider consulting a contract law expert and an experienced commercial real estate agent. If you received good advice before signing the lease, you should have an early termination clause that can protect you. Our team is experienced in helping landlords and tenants terminate commercial leases before or after the expiry date. We will inform you of your legal possibilities and advise you on the best solution in the event of a dispute. If you are getting help terminating a commercial lease, contact us today. Just call us on 0345 901 0445 or fill out our online application form on this page so that a member of our team can contact you. We offer our services to residents of Cheshire, Manchester and London, as well as the rest of the UK. There are a number of reasons why you want to end an early lease. Maybe the premises are no longer suitable for your growing business, or that the company is struggling financially and you need a lease with better terms. As noted above, your specific commercial lease frequently contains provisions in which the lease may be terminated in certain situations by one of the parties, the tenant or the lessor. In a case where commercial property is struck and burned at lightning speed, both parties are often released from their commercial lease obligations with impunity. The end of a month of commercial rental or even years earlier may come with a price tag, but there are a number of ways to keep your final number low.
Keep in mind that market dynamics will play a role in deciding whether your landlord is willing to break your lease prematurely (if you don`t have a termination language in your lease) and how much an early termination could cost you a role. Other reasons why you can legally break a commercial lease: A fixed-term lease means that the lease automatically expires when the term of life has expired. If you are a tenant and wish to stay after this mandate, you can do so if your landlord agrees. However, maintaining a fixed term implies a “permanent obligation” to pay the rent. You have to resign for three months if you want to leave. Note: SquareFoot is not a law firm and does not offer legal advice in this blog post. If the contract is breached, you should consult a legal or finance expert if necessary. The shutdown is made when a tenant remains in the occupancy of his rental property after the expiry of the initial tenancy period. However, certain requirements must be met to ensure that the exercise of the right to pause is valid. For example, the tenant must send the landlord a notice of break on the respective date, at the incorrect time and according to a termination provision in the tenancy agreement, otherwise the termination may be invalid and the tenant remains responsible for the rent and all other responsibilities in the tenancy agreement.
An early discount of the lease could represent a significant financial burden that you should compare with the financial costs incurred to stay on the premises. The owner would expect you to consider existing market conditions if you made a proposal to terminate the lease, but would not be required to accept a number offered.