Hi all,
My partner (the lessee) is looking at moving out of a shop that she currently rents due to some recently-changed circumstances. She is currently seeing out a 2 year extension to the original lease. The lease appears to be a standard REIV 2003 commercial lease with no specific clauses on terminating the contract.
The agent has suggested that she would need to pay rent and outgoings until the end of the contract, unless she personally secures an alternative tenant which is approved by the lessor and organises the appropriate transfer documentation.
Is this what is typically involved in cancelling a commercial lease?
It does seem pretty straightforward, but any insight or suggestions on possible options for this scenario would be much appreciated.
My partner (the lessee) is looking at moving out of a shop that she currently rents due to some recently-changed circumstances. She is currently seeing out a 2 year extension to the original lease. The lease appears to be a standard REIV 2003 commercial lease with no specific clauses on terminating the contract.
The agent has suggested that she would need to pay rent and outgoings until the end of the contract, unless she personally secures an alternative tenant which is approved by the lessor and organises the appropriate transfer documentation.
Is this what is typically involved in cancelling a commercial lease?
It does seem pretty straightforward, but any insight or suggestions on possible options for this scenario would be much appreciated.