Whether you are looking to relocate or just negotiating your lease, it is important to know if terminating your lease is possible. Here are a few possible conditions that could lead to the termination of your lease, as listed in the article, Advantages to an Early Commercial Lease Termination:
- Agreement between the two parties – The length of a lease can be changed at any time as long as both parties agree to the modification.
- Violation of the lease – one party might be able to end the lease before the term is over if the other party has majorly violated a lease agreement.
- Break Clause – This clause states that a lease can be broken under certain conditions, such as the payment of a fine, after a fixed date, or if there is a beneficiary involved in the situation. If you are unsure of what your break clause includes, talk to a commercial real estate attorney
- Assignment Clause – This clause states that you can transfer your lease to another party before it expires, provided that the new party agrees to all of the terms and ideally with the permission of your current landlord. However, if this clause is in the original lease, a lawyer might be able to help you get around the express permission of the landlord.
Check with a lawyer if you need more guidance on whether it is possible to terminate your lease early.