Signing a lease in a commercial setting often carries with it different considerations than those associated with a residential lease. Oftentimes, when signing a commercial lease, the tenant is required to sign up for a multi year lease. Additionally, if the business fails, the lessee must agree to personally guarantee full lease amount.
In these difficult economic times, it can be difficult to project or predict how a new business venture will turn out. If you are having trouble making rent payments on your commercial lease or you otherwise want to get out of the agreement, you might be able to cancel if:
- There is a relevant opt out provision in the agreement allowing you to cancel;
- The business's revenue doesn't meet a certain amount, as set out in the lease;
- Landlord hasn't lived up to his or her promises, as set forth in the lease or otherwise related to the agreement.
You can read more about your Landlord/Tenant lease concerns here. If you are caught in a commercial lease that isn't working out, contact a Landlord/Tenant Attorney today to discuss your options for how to get out of an undesirable commercial lease.
Alternatively, a Landlord/Tenant Attorney can help you successfully negotiate a commercial lease that will allow you to have options to cancel the deal if the business does not perform as you desire.
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