Entering into a Florida commercial lease can be an excellent way to set up operations and promote your business. Chances are, when you signed the rental agreement, it was with the expectation that you would be able to complete the lease term. However, unexpected circumstances can arise that may make it necessary for you to end your agreement prematurely. In this situation, you need to know: Can I terminate my Florida commercial lease early?
Reasons to Terminate a Commercial Lease Early
There are many reasons that a party may need to end their lease contract early. In some cases, a tenant may need to vacate because of a personal or business-related reason. However, they may also need to break their lease early because the landlord has not kept the premises in a suitable condition.
Contact a Florida Business Attorney
If you think you may need to break your Florida commercial lease, you should contact a Florida business attorney before taking action. Your business lawyer can help you evaluate the circumstances and determine your options.
Review your Lease Agreement
You and your business attorney will need to review your lease agreement. Some commercial leases provide for early termination. Depending on your agreement, you may need to pay an early termination fee to be released from your obligation. There may also be other provisions that provide a means for early lease termination.
Tenant Breach
If you decide to end your lease early, it will be a breach of your lease agreement. As such, you could be sued by the landlord. However, you may have a valid defense. You and your business attorney can evaluate the reason for your breach and discuss any available defenses.
Landlord Breach
Generally, Florida landlords are required to keep leased premises in habitable condition, meaning that the property needs to have features such as working plumbing, safe electrical wiring, running water, functional HVAC and heating systems, and locks. If you have leased a commercial property that cannot be used because the landlord failed to maintain the premises as agreed, you may be able to pursue a breach claim. However, you will need to check your commercial lease agreement to confirm that the landlord is responsible for maintaining and repairing the issue. In some commercial leases, the tenant will be required to pay for this type of maintenance and repair.
Can I Terminate My Commercial Lease Early?
As a tenant, you can decide to terminate a commercial lease early. However, it’s important to know the potential consequences of doing so and if there are any mitigating factors. Additionally, if you are struggling to pay the agreed-upon sum, you may be able to work out an agreement with your landlord to pay less rent. You and your business lawyer can review your options and determine if there are any alternatives to breaching your agreement.
Often tenants are aware that they are having problems long before they need to end their lease agreement. If you believe you will need to end your lease early, you should contact an experienced Florida business law attorney who can help you evaluate your situation and find the best solution.
Contact an Experienced Florida Business Attorney
Attorney Richard Sierra at the Florida Small Business Center assists clients like you with commercial leasing, business, and litigation matters. As always, Our Goal Is to Help You Succeed™. For an appointment, you may call us at 1-866-842-5202 or use the contact form on our website. We represent clients throughout the State of Florida, including Coral Springs, Coconut Creek, Boca Raton, Delray Beach, Pompano Beach, Sunrise, Fort Lauderdale, Miami, West Palm Beach, Jupiter, Deerfield Beach, Stuart, Port St. Lucie, Orlando, Naples, Fort Myers, Sarasota, Tampa, and surrounding communities.