Business owners in Texas and around the country strive for success. In some cases, this means that it is time to move to another area or to a building with more space. However, this may mean that it is necessary to break an existing commercial lease. A business owner may be able to prepare for this by negotiating exit language in the lease before it is signed.
It may be possible to simply ask the landlord to be let out of a lease. The landlord may be amenable to this if it means seeking a new tenant that may pay a higher monthly rental rate. It may also be possible to buy out the rest of a lease to get out of it sooner. To increase the odds of getting out of a lease, an individual may offer to find a replacement tenant.
If a landlord isn’t willing to work out new lease terms, it may be possible to leave and risk a lawsuit for unpaid rent. However, this is generally seen as a last resort for a commercial tenant. It is also important to know that a landlord may have a responsibility to actively search for a new tenant. If one is found, the landlord cannot charge two tenants rent at the same time.
In many cases, a commercial lease is not a rigid document. Commercial tenants and landlords may be able to engage in good faith negotiations to amend or revoke a lease in a timely and favorable manner to both sides. An attorney may be able to assist with negotiations or help a tenant in the event of a lawsuit. Legal counsel may also assist in negotiating the terms of a lease before it is signed.