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Tom B.
Tom B., Barrister & Solicitor
Category: Canada Law
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Experience:  25 years in practice
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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?