Mar
13

How can I get out of a retail space lease I signed back in Feb. 08?”?

By admin
lease back

I signed a 5 year Retail Space lease back in Feb for my business and at the time I was in the process of getting a business loan but after two months the lender denied my loan application…..What should I do, can I sub-let my space? I really want to get out of it now and contiune to work from home.

Rent Back Fast
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Categories : lease back

3 Comments

1

Whether or not you can sub-let would be in your lease. You’ll need to read that.

2

The first answer is correct on the read your lease part. However talk it over with your landlord and explain that you had jumped the gun on the lease part as you truly thought you where going to get that business loan.
Have you also checked with the SBA (small business association) They will insure a small business loan.

3

read ur lease, more than likely in commercial leases, if u are denied financing there is usually a clause that allows u to back out. read ur lease thats the only way you wll know for sure.

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