Commercial Lease agreement
I am a tenant who needs to renew my lease at a commercial property. The new owners added a clause in the new lease agreement to make me responsible for the rent if I sell the business, how can I protect myself? Can I add a clause to remove my obligations after I sell? I am month to month right now, they need to close our restaurant to repair a wall and maybe replace the floor due to new law requirements due to water damage from years ago. Am I responsible for the repair cost?
Re: Commercial Lease agreement
Some of the answer to your question may come down to negotiation and business interests. Then, of course, you must know how to implement that into an agreement that will protect your interests. I cannot tell enough about your repair issue from your summary, but you may contact my office to discuss.
Disclaimer: Nothing herein constitutes legal advice. No attorney client nor confidential relationship is created. You may not rely on attorney nor anything communicated unless and until an attorney-client relationship has been formed. Your issue may be time sensitive, requiring you to act immediately to prevent loss of your rights or harm to your interests.
Daniel Bakondi
The Law Office of Daniel Bakondi, APLC
870 Market Street, Suite 1161
San Francisco, CA 94102
Re: Commercial Lease agreement
Start looking for a new location for your restaurant.
The new owners sound like the calvary stealing the Native American lands in the old West.
I am assuming you did not cause the water damage. If you sign this, you could be bound by it.
Move! Nothing but trouble ahead from the new owners.
Robert L. Bennett
Law offices of Robert L. Bennett
2117 N. Baker St.
Bakersfield, CA 93305