As a tenant, there are many reasons why you may want ‘out’ of your commercial 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.
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, we’ll 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’s often easier said than done. We’ll 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/surrender – It may be possible to negotiate an early exit in exchange for a ‘payout’ to your landlord. We’ll help you negotiate a fair amount, which works for you while compensating the owner for lost rent and other expenses.
Get in touch
When it comes to lease exit strategies, Tenant CS knows what to negotiate and how to minimise your losses. Get in touch with a member of our team today!