Hi guys,
I bought a small business in December and signed a 5-year license / commercial lease (with a 5-year option). Due to some family situations, I need to either sell or close up. I have had no interest in people buying, however, it has become a matter of urgency to leave and move back home to my family.
Will I be liable to pay any break of lease agreements should I close up and walk out without a new tenant? It is not my choice and I have asked my property manager what the process is, however, I have not received a response.
I will already be losing out if I can't sell the café and don't want to have to face a break/surrender of lease fines or penalties as well.
Any help is appreciated.
I bought a small business in December and signed a 5-year license / commercial lease (with a 5-year option). Due to some family situations, I need to either sell or close up. I have had no interest in people buying, however, it has become a matter of urgency to leave and move back home to my family.
Will I be liable to pay any break of lease agreements should I close up and walk out without a new tenant? It is not my choice and I have asked my property manager what the process is, however, I have not received a response.
I will already be losing out if I can't sell the café and don't want to have to face a break/surrender of lease fines or penalties as well.
Any help is appreciated.