how can you exit from lease

I have a space about 4000 s\f for rent. My lease period start from july09 and end on june 11. My question is if i want to break the lease what are the problems that i am going to face .thanks
In Leasing Property - Asked by syed a. - Jul 25, 2009
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Answer(s)

Cynthia S.
Broker/Agent
Chandler, AZ

I can speak from personal experience. I had a three (3) year lease, I served two (2) until the market tanked. I vacated with notice under good relationship with the leasing company. I had a judgment levied against me, and they looked at all my assets, including bank accounts, wages, etc. for garnishment. I have to live with this broken lease over my head to the tune of $25K, plus the harassments from attorneys, collection agencies, etc. I made a mistake of personally guaranteeing the lease. My advise is find a someone to sublease.

Jul 26, 2009
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Michael S.
Developer
Margate, FL

In general real estate is written law. The landlord can file suit to recover lost rent, etc, based on what is written and ageed to in the lease. There are costs to the landlord to attempt recovery so the landlord has to feel that this step is worth the cost. We would suggest that you speak to a real estate attorney for help.
As property managers we try to work with our tenants when they have business problems. However, it helps when the tenant is understanding as well because the market is tough one for landlords too.

Jul 26, 2009
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LAYLA c.
Owner/Investor
Agoura, CA

what is you'r phone # please?

Jul 27, 2009
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Mike G.
Broker/Agent
Albany, NY

Where are you located?

Jul 28, 2009
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Gregory G.
Broker/Agent
San Francisco, CA

Depends on how the lease is written. Send me your lease.
http://www.gregorygarver.com

Sep 1, 2009
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