I along with four others, own a dinner theatre. Our business had been displaced when the company that owned the building we were in was forclosed on. It was imparative we find a home right away and we thought we did. My business partners and I negotiaged a lease for our business - and were assured we would have a lease in our hands right away -- we were in need of getting our doors open so we did the worst thing ever -- we trusted our landlord to do what he agreed to do. Needless to say as soon as we moved in he raised the rent and had a steady rent increase of 14% every year! It wasn't what we negotated so of course we wouldn't sign it. We tried for five months to get a lease that honored what he promised - to date that hasn't happened. We have found a new location, we have a ten year lease now signed with the new location and we are leaving the current location. Problem is -- the landlord is holding all our equipment (and our caterer's equipment) hostage. What can we do?
2007-03-03
03:53:48
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4 answers
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asked by
Pam E
1
in
Politics & Government
➔ Law & Ethics
Just to clarify -- we never signed a lease with the landlord that is holding our property. Also - we are located in Minnesota.
2007-03-03
04:23:24 ·
update #1