The phrase "breaking a lease" makes the process sound negative and perhaps even illegal. For this reason, some experts suggest that tenants say they would like to "terminate the lease" instead. After all, you can legally do this in many situations, so that phrase better captures the reality of what you'd like to do. Below are some tips that can help if you're negotiating to get out of the contract.
Development projects can be exciting, but they are also very expensive and come with all types of risks. One way to reduce the risks associated with your involvement in a project is to ensure contract negotiations are well planned and well executed. Our firm works with developers and other involved parties, protecting your interests before, during and after contract negotiation processes.
A net lease is a type of commercial lease often used for retail or office environments. Typically, tenants that enter into a net lease pay a lower base rent each month than those that enter into other types of commercial leases, but that is because those tenants also pay part of the net expenses of the property. The "nets" are usually considered insurance, property tax and CAMS, though net lease tenants also usually cover other expenses such as common area maintenance or their own utilities.
The perfect location is hard to find. You might have spent months looking for the right development to open your new business. Whether you are opening a restaurant, retail store or other type of establishment, you know that in order to be successful, you are going to have to build a steady client base. You do not want any obstacles in your way that can prevent you from being able to achieve success.
The seriousness of an investment is relative to the wealth of the person or entity making the investment. A $10,000 investment by a small business owner in a strip mall might be just as serious as a $10 million investment by a large corporation if it represents a huge percentage of the investor's available capital. For this reason, when it comes to a business venture that requires a physical place of business housed in a leased piece of property, it is vital that the business owner negotiate the terms of the lease with a fine-toothed comb. Being certain of every aspect of a business lease will ensure that problems to do no rear their ugly heads later on down the road in the form of a landlord/tenant disagreement or lease dispute.