Wondering what happens if you break a commercial lease? Breaking a commercial lease can have significant financial consequences. Here’s what you need to know:
Reasons for Breaking a Lease:
Financial Struggles: If your business has been failing financially, you might need to break the lease due to rent difficulties.
Business Growth: Sometimes, businesses thrive and need to relocate to larger facilities.
Short-Term Monthly Tenancy:
Provide your landlord with a 30 to 90-day notice (check your lease terms).
Inspect the premises together to note any damages.
Prepare a list of items that need repair upon vacating.
Long-Term Commercial Leasing:
If you break a long-term lease, you’ll likely owe the remaining rent payments.
Landlords can take legal action if you leave without paying.
Consider your plan of action carefully.
I hope you get an idea of what happens when you break a commercial lease.
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Can a Landlord Break a Commercial Lease?
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What Happens If You Break a Commercial Lease?
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2024-07-15T10:18:45+00:00 2024-07-15T10:18:46+00:00Comment
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