How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask INFOLAWYER Your Own Question
INFOLAWYER
INFOLAWYER, Attorney
Category: Business Law
Satisfied Customers: 53895
Experience:  LICENSED BUSINESS LAWYER
11313492
Type Your Business Law Question Here...
INFOLAWYER is online now
A new question is answered every 9 seconds

I have leased a space in a marketplace,( flower shop)I have

Customer Question

I have leased a space in a marketplace,( flower shop)I have a two year lease, I have one year left. When I moved in I had 3 partners, but three shops out of 13 closed and my partners left the company.The Marketplace is not taking off and we have very little foot traffic. The owner also owns the fruit stand as well as one of the other stands he took over when the tenant could not pay rent. On the lease we all signed they had attached a personal liabilty on it. I have not recieved a new or adjusted lease since my partners left. I would really like to leave. The owner of the marketplace is currently in litagation with several other tenants. How could I get out of the lease ?
Submitted: 7 years ago.
Category: Business Law
Expert:  INFOLAWYER replied 7 years ago.

You would only be able to do so by negotiating with the landlord. A landlord would be more amenable if you bring in a new tenant, preferably at higher rent

 

also, if you offer to forfeit the deposit, landlord usuallu more amenable.

 

Finally, if landlord has breached the lease in some manner, you can use that as bargaining leverage. check also if lease permits you to end it on notice.

Related Business Law Questions