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 Tom B. Your Own Question
Tom B.
Tom B., Barrister & Solicitor
Category: Canada Law
Satisfied Customers: 2263
Experience:  25 years in practice
28667836
Type Your Canada Law Question Here...
Tom B. is online now
A new question is answered every 9 seconds

I am negotiating the purchase of an existing business in a

Customer Question

I am negotiating the purchase of an existing business in a leased space. The building has been sold but the lease does not expire until April 2017. What should I be taking into consideration regarding the re-negotiation of a new lease with an unknown landlord? Basicially, I don't want to find out in 6 months that my rent has increased to the extent that the business is no longer profitable.
Submitted: 1 year ago.
Category: Canada Law
Expert:  Debra replied 1 year ago.

Thanks for this question.

Does the lease have an option to renew?

If so what does it say, if anything about the rent and other terms?