free small business advice & information
Main Menu
Hot Links
Page 10 of 12
Getting out of a Lease
9. Your Negotiating Position
Take steps to strengthen your negotiating position by assessing the situation from a number of different angles.
9.1 What is your landlord's position?
- The premises may be difficult to re-let, because of location, layout or condition.
- The landlord may have other problems.
- If your premises are in a multi-let building, find out if the landlord plans future redevelopment for the whole building. If this is so, it will be easier to negotiate a termination. It should also be cheaper, as you can avoid any dilapidation charges.
9.2 Has the landlord broken any terms of the lease?
- For example, if the landlord fails to maintain the premises, you may have the right to terminate the lease (once notice periods and legal procedures have been completed).
9.3 What concessions are you willing to make?
- If you provide any guarantees (see 5.2), try to limit the amount and duration.
- It is often worth paying more cash today to avoid potentially large future liabilities.
Labels: Premises, Reduce Costs
Monthly Prize Draw!
Win £375 worth of advertising for your business.
Enter our competition by either:
- Signing up to the is4profit Small Business Newsletter or
- Entering your firm's details into the Small Business Directory