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"Kh a a a a a n n" ! ! | If you're a landlord and you're allowing your tenant to break a commercial lease, how should you handle it? |
I will allow the tenant to get out of his lease with me. I will allow him to leave under certain conditions, which are actually, in my opinion, very reasonable. I know some people have demanded that tenants pay them lump sums when getting out of a lease, but I am willing to forgo that.
Anyway, the tenant would like to have me sign a paper from his lawyer saying that I will end the lease under these conditions.
Should I do that?
OR- should I just say that I will sign nothing. And that I will declare the lease to be void after the conditions have been met?
Thanks. |
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daihatsu man
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I would look the contract over and see if it says what you want it to, then sign it. The tenant probably just wants assurances that you won't screw him. |
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KA
 |
He is the one breaking the contract so I'd say you have the upper hand here. I go with choice 2. |
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tabulator32
 |
You need to sign a document of some kind indicating what you just said and that all other terms of the lease apply (such as damage discovered, etc)
Always cover yourself with a legal document in any type of tenant activity, even if it is in their favor.
You are assuring the tenant that you won't come back and change your mind and make him worry for months to come that he may some day get a bill from you.
It is the only professional thing to do.
You sound like a really nice person. Just put it in writing and take a load off their mind. |
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open4one
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It's reasonable to put your agreement in writing. The tenant is probably on the hook for a few years, many thousands of dollars, and without your written agreement, a court would probably look at it as if he is abandoning the lease. Odds are that the lease contains a clause that says "all modifications to this lease must be in writing".
Refusing to sign a modification agreement that does contain all that you are demanding is unreasonable.
Even if you are foregoing the lump sum, you should demand that before you will agree to this, a lump sum should be placed in escrow with YOUR attorney, to guarantee that they will meet your conditions. For example, you want it clean, no damage, etc, etc.... a month's rent or two in escrow, returnable if it is clean and undamaged is quite reasonable. |
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Cathy K
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To protect yourself and the tenant I would read over the agreement or make one your selft stating that the lease will be void after the conditions, and list them, are complete. |
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jimsagirl
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sigh nothing |
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Lance
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GO TO:
http://www.utcourts.gov/howto/landlord/ |
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NONAME
 |
Are you for real? If you are a landlord with a commercial property you should already have the services of a lawyer. Use them.
If you sign it, even if you don't know what it means, you are bound by it; as a minimum the tennant breaking the lease should pay rent until you have a new tennant or the end of the contract, whichever comes first. Period. |
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dragonfly_3
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If they are your terms, why wouldn't you sign it? The guy wants to be off the hook free and clear and he is smart to want to do it in writing. If you changed your mind, let him know that, but don't be vague about ending the lease if you already agreed to that. |
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Jack N
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stupid is as stupid does |
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qwerty
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you shouldn't sign anything because if you do that's less money 4 ya! |
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Casu.
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Don't let it happen again after the third time. |
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Stimpson J. Cat
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Have your lawyer take a look at the contract that the tenant wants you to sign. |
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emalee98
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If I were you, I would sign the papers by his Lawyer. He is just trying to cover himself in case you later decide to sue, or there is no proof of you allowing him to leave his lease early. I hope his reasons are reasonable, and if they arent, you should charge him. A lease is a lease. But if you are allowing him to move with no strings, signing his lawyers paper won't hurt you, and it will help him.
Good Luck! |
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