May
17
I am stuck in a commercial lease. I am unfit to run a business due to ill health how can i get out of the ?
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7 Comments
August 13th, 2009 at 1:41 pm
find someone to sub-lease the space…
August 15th, 2009 at 7:33 pm
get your medical records together , either advertise and transfer the lease over , find someone else to take over while you receive treatment , or see what the real estate agent is willing to assist you with. real estate agents rarely care about these kinds of things , it is the money they look at , so find someone else in your family to look after you affairs while you get medical attention.
read up on information availiable for this kind of problem, commerciail leases are usually harder to get out of then residential leases as there is more money changing hands and this is exploited in times of trouble. the real estate company will see this as you trying to break lease with an excuse not particularly a real sickness , you must gather evidence for your sickness for them to assist you in any way..
you can get another person to work there , you will be liable for anything they do , or dont do .
August 17th, 2009 at 3:00 am
First, talk to your LL. Explain the circumstances. Ask if they’ll allow you to escape from your lease if you can find another tenant at identical terms. Alternately, if your lease allows it, you may be able to sub-lease it to another business that will take over the space. But you have to be careful with this option because you would remain liable for rent to the LL.
August 18th, 2009 at 12:56 pm
Talk to the company you lease from and see if they will let you out of the lease. Sub-lease is also a good idea.
You might want to repost your question under renting and real estate.
August 19th, 2009 at 2:25 am
You could always try to find someone to sell your business to, and they could take over the lease.
August 21st, 2009 at 6:05 pm
Your options seem to be:
Sub lease the property.
Take on a partner to help run the business.
Sell the business.
File bankruptcy.
August 25th, 2009 at 5:30 am
You will need to find someone to take over the business, or a new tenant to take over the lease; or if you cannot, try to offer the landlord a buyout.