How to get out of a commercial lease:
If you have a commercial lease and you want to get out of it, it may be because you did not anticipate how fast your business would grow and you need to get into a bigger place. It could be for this reason or others. Maybe you got into the lease and then found that you do not trust your landlords and you want to get out of the lease because you do not feel that you can trust them.
There are many reasons that you may feel that you want to get out of a commercial lease. No matter what the reason you want out, there are ways that you can get out of the lease. But, all of such ways that allow you to get out of your lease, stem from the landlord and whether or not they are willing to let you. Take a good look at your contract, and determine whether or not you have an out option. In not, then if your landlord wants, they can make it so you cannot get out of a lease. At the time you sign the contract they can already have it set up so that if you ended up wanting to get out of it at a later period, you could not.
There are two main ways to get out of a commercial lease if after a certain amount of time you find that you no longer want to stay there. These two main ways are as follows:
1. You can sublease it to another tenant. The only way that this is possible is if there is a clause in allowing it in the lease agreement that you signed. If the landlord puts this clause in that means that they thought of it beforehand and decided to allow it. If they do not want you to have the option to sublease it then they can decide not to put that clause in the lease agreement.
If they do allow you to sublease it then you are allowed to lease it out to someone else. This could be risky because even though someone else is leasing it, you are still responsible for what goes on there. When your lease is up, you are responsible for any damages or anything that might go on.
You are also still responsible for payments and such. If the subleasers do not put in a payment you are responsible for that payment because you are the original leaser and you signed the agreement that you would take full responsibility even if you subleased it out so someone else.
2. The other way to get out of a commercial lease is to buy out of it. This will only work if your landlord agrees to let you buy out of your lease. If you decide to buy out of a lease agreement then you and your landlord have to negotiate a lump sum that they will allow you to pay in order to get out of the lease.
This sum is usually less than the total amount of payments that you have left to pay. This way protects you because unlike subleasing, it removes you from responsibility of what goes on there. You are not longer accountable for any liabilities and such that happen in that building. It also helps the landlord because the sum will cover the costs of vacancy while they are looking for a new tenant.
It is true that you still have to pay a lump sum, while subleasing it you do not, but it may be worth it to pay that lump sum if it means ending your liability for the lease. If you subleased to a tenant whom you could not trust to get their payments in and take care of the building, it could end up costing a significant amount more than just paying the lump sum.
Getting out of a commercial lease is not impossible. If your landlords decide to make it an option for you then it is actually very easy. The problem would be if you happened to get in with landlords who would not negotiate to let you get out of the lease.