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Terminating Commercial Lease Agreement

A lease is a contractual agreement between a tenant and a lessor and is valid for a specified period. While some leases contain an early disposition clause, most operate until they end in «time flow.» However, there are opportunities to terminate a commercial lease prematurely and these processes differ depending on who wants to terminate the lease – the landlord or tenant – and under what circumstances and when. Both parties must be aware of their legal obligations. To discuss with a lawyer the termination of a commercial lease, contact us by phone on 0345 901 0445 or fill out our online application form and we will contact you. Although a commercial lease is a legally binding contract, you may find yourself in a situation where you have to terminate it before it ends. stay legally on the site, use the same terms as their existing lease (when it expires) and apply to the court for a new lease, if you are unable to agree on terms (known as «security of ownership») If your tenant wishes to stay and you have not issued a notice under section 25 (see above) to terminate their rental agreement, he can submit an application for a new lease. This section is called Section 26 Notice or S26 Notice and is in turn written in accordance with the law. If your lease is already within the last six months (or has expired), you must always terminate at least six months in advance. Before attempting to renew your commercial lease, you should seek advice from an expert in commercial leases and the commercial real estate market. If you decide to prematurely terminate a commercial lease, you must: when difficult economic conditions hit the local economy, it is not uncommon for companies to have to make difficult decisions. Often, a company needs to reduce expenses by reducing salary costs or eliminating advertising budgets. Many traders may even leave for several months at the end without paying themselves, because the profits are not there and this is the only way to keep the doors open; But sometimes a company simply has no choice but to close the doors. While this is a real harshness for every business, it becomes even more complicated when commercial ownership is tied to a long-term commercial lease.

If your landlord prematurely terminates your lease without your consent, seek advice from a lawyer experienced in contract law…