Two years ago, Virginia (not her real name) contacted me to help her find a new location for her business currently located in the Garment District. She had an issue which we can all understand.
It takes time to move space and as a tenant, time can be your biggest asset or your biggest liability... so make sure you have enough of it!
“Getting out” of a lease for a business is usually a last resort, but sometimes a necessary one. The good news is that there are methods available to expedite an early out. Planning before the lease is signed is essential. Inability to pay the rent isn’t the only reason a tenant may need to break a lease. It may be more important if you are very successful and need larger space. Here are the lease clauses and methods to consider: