I will allow the tenant to get out of his lease with me. I will allow him to leave under certain conditions, which are actually, in my opinion, very reasonable. I know some people have demanded that tenants pay them lump sums when getting out of a lease, but I am willing to forgo that.
Anyway, the tenant would like to have me sign a paper from his lawyer saying that I will end the lease under these conditions.
Should I do that?
OR- should I just say that I will sign nothing. And that I will declare the lease to be void after the conditions have been met?
Thanks.
2007-09-09 13:33:07 · 15 answers · asked by Zezo Zeze Zadfrack 1 in Business & Finance ➔ Renting & Real Estate
I would look the contract over and see if it says what you want it to, then sign it. The tenant probably just wants assurances that you won't screw him.
2007-09-09 13:37:37 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You need to sign a document of some kind indicating what you just said and that all other terms of the lease apply (such as damage discovered, etc)
Always cover yourself with a legal document in any type of tenant activity, even if it is in their favor.
You are assuring the tenant that you won't come back and change your mind and make him worry for months to come that he may some day get a bill from you.
It is the only professional thing to do.
You sound like a really nice person. Just put it in writing and take a load off their mind.
2007-09-09 13:40:29 · answer #2 · answered by tabulator32 6 · 1⤊ 0⤋
It's reasonable to put your agreement in writing. The tenant is probably on the hook for a few years, many thousands of dollars, and without your written agreement, a court would probably look at it as if he is abandoning the lease. Odds are that the lease contains a clause that says "all modifications to this lease must be in writing".
Refusing to sign a modification agreement that does contain all that you are demanding is unreasonable.
Even if you are foregoing the lump sum, you should demand that before you will agree to this, a lump sum should be placed in escrow with YOUR attorney, to guarantee that they will meet your conditions. For example, you want it clean, no damage, etc, etc.... a month's rent or two in escrow, returnable if it is clean and undamaged is quite reasonable.
2007-09-09 14:00:54 · answer #3 · answered by open4one 7 · 1⤊ 0⤋
you in user-friendly terms have an criminal accountability to pay the hire if the owner or you are able to can not discover an acceptably alternative on your hire duties. The superb print perhaps some thing diverse the what you think of, if the hire would not specially designate an area your are leasing the owner could argue which you nevertheless could pay, occasion: the wording on the hire would not specify an exact region, the middle has 10 kiosk's areas, the hire would not assure an an exact kiosk region purely between the ten, in the event that they have one kiosk vacant, that's the single you're obligated to pay on, or so as that they are going to argue a minimum of. you certainly could pass over the hire and be conscious some concept as to what they're fairly leasing you; an exact region or the appropriate to sell your product at their mall.
2016-10-10 06:55:09 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Are you for real? If you are a landlord with a commercial property you should already have the services of a lawyer. Use them.
If you sign it, even if you don't know what it means, you are bound by it; as a minimum the tennant breaking the lease should pay rent until you have a new tennant or the end of the contract, whichever comes first. Period.
2007-09-10 05:45:46 · answer #5 · answered by Anonymous · 0⤊ 0⤋
If I were you, I would sign the papers by his Lawyer. He is just trying to cover himself in case you later decide to sue, or there is no proof of you allowing him to leave his lease early. I hope his reasons are reasonable, and if they arent, you should charge him. A lease is a lease. But if you are allowing him to move with no strings, signing his lawyers paper won't hurt you, and it will help him.
Good Luck!
2007-09-09 13:39:37 · answer #6 · answered by EmaLee98 2 · 0⤊ 0⤋
To protect yourself and the tenant I would read over the agreement or make one your selft stating that the lease will be void after the conditions, and list them, are complete.
2007-09-09 13:39:59 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Have your lawyer take a look at the contract that the tenant wants you to sign.
2007-09-09 13:39:12 · answer #8 · answered by Stimpy 7 · 0⤊ 0⤋
GO TO:
http://www.utcourts.gov/howto/landlord/
2007-09-09 13:40:24 · answer #9 · answered by Anonymous · 0⤊ 0⤋
If they are your terms, why wouldn't you sign it? The guy wants to be off the hook free and clear and he is smart to want to do it in writing. If you changed your mind, let him know that, but don't be vague about ending the lease if you already agreed to that.
2007-09-09 14:06:16 · answer #10 · answered by Anonymous · 0⤊ 0⤋