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RealEstateAnswer
RealEstateAnswer, Lawyer
Category: Real Estate Law
Satisfied Customers: 23956
Experience:  9+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
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When you invest your money in a business in a blank unit in

Customer Question

when you invest your money in a business in a blank unit in a shopping center and the rent goes up and ou can't afford to sign a new lease do you a any recourse
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  RealEstateAnswer replied 1 year ago.
Hi! I will be the professional that will be helping you today. I look forward to providing you with information to help solve your problem.
Good afternoon. Can you please expand on your question, so I have a better idea of the situation? Thank you. When did the rent go up?
Customer: replied 1 year ago.

I opened a Aveda salon in a large shopping. center I put 100,000 of my on money into getting the pluming and electrical, building walls installing a hot water tank etc. my lease is going up and I can't afford the rent. Every business in the shopping center is a chain store except mine. I have to pay for any improvements done to shopping center so my rent goes up every year for improvement's done. I know I have to pay parking lot maintenance, but I am paying for roof repairs and mine has been leaking since before I opened. I have until Jan.2016 to decide if I can renew my lease. Is their anything I can do.

Expert:  RealEstateAnswer replied 1 year ago.
Thank you for the additional information. As a business owner, the obligation is on you to know the lease agreement, terms, rent and what you are liable for, during the course of the lease. As long as the landlord is acting within the scope of the lease agreement and exercising their rights, there is nothing illegal about the rent increase. If you are not in a position to afford it, you either need to vacate or wait for the landlord to evict you from the commercial property. Now, the landlord may have a hard time finding a new tenant and not want the space to sit idle, so you can try and work something out with them, explaining your situation and see if they would allow the rent to remain the same, so you can afford to stay. Outside of working with them, there would appear to be a loss taken and with any business, that can and often times does happen. I know this is not what you were hoping to hear but if the finances of the business are in distress and you can not afford to pay rent, then you would need to leave.
Expert:  RealEstateAnswer replied 1 year ago.
I just wanted to follow up and see if you had any other questions or needed me to clarify something. I am here to help, so please let me know. Thanks!
Customer: replied 1 year ago.

I signed a 5 year lease My rent has increased Over 800 hundred in the 4.5 years. I am paying for improvements for roof repairs every month for new businesses that moved into the shopping center and my roof still leaks. It is in my lease that my roof would be repaired before I moved in but after 4.5 years it still leaks and ruined a wall in the front of my business that I paid to build and every time it rains I have to replace the tiles. .

Expert:  RealEstateAnswer replied 1 year ago.
If your lease requires the landlord to replace and fix the roof then he needs to do so. If it was a condition when you moved in that the roof would be new or free of any problems and it was not then you can try and hold the landlord responsible as well