As an office, retail or industrial tenant, there are many reasons for breaking a lease. Perhaps your business needs to upsize or downsize, or your expenses are too high. Whatever your motives, the success of your exit strategy depends on market conditions and the terms of your lease. Should things not go to plan, you’ll have to continue to abide by your tenant obligations and pay rent, even if you’ve moved. And this can prove costly for tenants, especially when locked into a long-term lease.
Luckily, when it comes to creating and managing lease exit strategies, Tenant CS come highly experienced. Depending on your circumstances, we can help you with:
- Subleasing your space – If you want to lease out part or all of your space to another company, and this strategy can come with many benefits. We will help you find a tenant that complements your business, handle negotiations with your landlord, and draw up a sublease agreement that minimises your risk and costs.
- Third-party assignments – Assigning a lease simply means transferring it to a third party. But that is often easier said than done. We will take the hassle out of finding a suitable tenant, who has the right business profile and financial grounds to take on your lease.
- Lease termination or surrender – It may be possible to negotiate an early exit in exchange for a ‘payout’ to your landlord. We will help you negotiate a fair amount, which is fair to your business while compensating the owner for lost rent and other expenses.
Get the right advice
Tenant CS is well experienced when it comes to negotiating commercial lease surrenders or lease terminations, subleasing agreements or third-party lease assignments. So, when it comes to managing your lease exit strategy, Tenant CS knows what to negotiate, how to mitigate your risk and how to minimise your losses. Get in touch with a member of our team today!