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12
I have a 5 year commercial lease in San Francisco. If i cannot make the 5 years what would happen?
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Does anyone know if I needed to vacte the premises what would happen to me or my business. I have fulfilled 1 year of the lease, going on 2.
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1 Comments
June 29th, 2009 at 7:01 pm
The landlord would probably re rent unit but expect you to pay for all the costs including but not limited to; a commission to a real estate agent (about 5% of lease), any months the unit was vacant, any work they felt necessary to rent unit and probably legal costs to inform you of such.
You can also try and sub lease the unit but will ultimately need the landlords ok on the new tenant. I’ve rented commercial property before, as a number to through out there, it takes about 6 months to rent a commercial unit.