We signed a 2 year-commercial lease a couple of months ago. Our business is not doing well; and need to void the contract. Our landlord refuses to negotiate. Our contract do not have a termination clause. We do not want to be sent to collection or else; but we wont be able to keep up with our rent till the end of the lease.
2006-07-13 11:30:14 · 4 answers · asked by buby 2 in Business & Finance ➔ Corporations
Try to find an alternative tenant.
Or at least clear the place completely and stop paying the rent while staying in contact and offering some kind of payment to get out of the contract. As soon as the landlord has to become worried about the rents he might be more open for negotiations.
2006-07-13 11:35:50 · answer #1 · answered by swissnick 7 · 1⤊ 0⤋
Hi buby,
Check your lease. Does it have a Sublet clause?
If so, rent the space out.
Good Luck,
~Trey
2006-07-13 12:11:24 · answer #2 · answered by ~Trey 3 · 0⤊ 0⤋
If you can't sublet, it may be necessary to declare bankruptcy. You can ask the landlord if he would enjoy lining up with other creditors at a bankruptcy proceeding.
2006-07-13 12:33:52 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Nope. Your employ stands clone of the old proprietor replaced into nevertheless proprietor. the hot proprietor is paying for your construction for the lengthy run. Your decision of the subsequent 2....5 year employ ideas is what he's banking on.
2016-11-02 00:26:50 · answer #4 · answered by ? 4 · 0⤊ 0⤋