Legally Contravening A Business Lease

As a tenant, before you break your lease, due to preference for another location, or find the rent rather steep, or else the neighbours are much too loud, do take the time to check out your contract. Lease terms may differ from state to state, but it is still important for you to follow the rules. Consider the following:

1. An attempt should be made to re-negotiate with your landlord. If, you find the lease terms difficult to fulfil, talk it over with your landlord and try to re-negotiate. After all, it is in the landlord’s best interests to be paid what has been agreed upon in the lease contract. However, it won’t hurt to request the landlord to terminate your tenancy, or to allow you to find a replacement tenant, in exchange for being released from any financial obligations. Demonstrate your good will by offering to advertise the vacancy in the local newspaper.
2. Get it in writing. If, your landlord agrees to release you from your contract, get it in writing. As well, ensure the landlord signs a new lease with his / her new tenant. Keep all relevant paperwork with you for a minimum of 3-years, or consult with your lawyer on this point.
3. Sub-let. In case, your landlord refuses to re-negotiate, after consulting, getting permission and informing him / her, what can be expected from this new arrangement, go ahead and sub-let the place. Just don’t forget your name is still on the contract, and therefore, you can be held liable for any of your tenant’s mis-adventures.
4. Be prepared to pay the remainder of the rental payment or in lieu a penalty for breaking the lease in the midst of its term. Just because, you do not require the premises anymore does not mean your landlord will waive his / her rental dues. Remember, the same as every other entrepreneur, landlords or vendors are also in business, the business of renting out their property for a living.
5. Do some intelligence gathering. After informing your landlord of your wish to terminate the lease, try and find out, if he / she has been scouting around for a replacement tenant.
6. Take stock of penalty charges. You may find it easy to ignore that piece of paper, but a signed contract is binding. Standard penalty charges could mean forgoing your security deposit, as well as, having to pay the remainder of the rent owed, till a replacement tenant is found. And, don’t forget, news travels fast. A bad reference from a landlord or a disparaging remark about your ethics, and it could minimise your opportunities for a new lease, elsewhere, especially if you want to relocate nearby.
7. Get some legal advice. A lawyer won’t take too long to review your lease. It would be wise investment to get some legal advice, saving you much more in the long run, including increasing your rental knowledge, something that will come very handy in the future.
8. Take notes. Breaking a lease may have you short of several thousands of dollars, but keeping good records of events, will ensure it doesn’t have to happen again. For example, if the main reason for vacating the property is due to space limitations, next time round, you will be particularly mindful of the square footage. If, you happened to miss a specific clause in the leasing contract and it had a heavy impact on your wallet, next time, you will remember to read the lease contract, signing it only after a careful review.

As for landlords, it is important to carefully select and screen prospective tenants as it helps avoid problems, later on. For help in suitable tenant selection, visit www.e-renter.com for tenant screening and background check services, the best and only way to prevent expensive litigation, penalty charges or property damage.