What is the name of your state (only U.S. law)? NV
I took over a business in 2006 and with it its lease. The lease runs until August 31, 2009, and eventhough I tried really hard to negotiate an extension with the landlord at a lower rate, I have had to move to a different building who was offering me half the price of rent for the same sq ft. However, the condition was to move in By June 1st.
I am now facing the current management company to whom I have been paying rent with not 1 late payment, saying I am legally obligated to pay the rent until Aug 31. However, I cannot financially afford both rents (new place and old place) for 3 months!
I have tried to find a compromise given my excellent payment history, but the management company keeps on saying I am obligated. What are my options (if any)? Just to give some historic, the management company promised a pylone sign and an anchor store to all the "small" tenants in the plaza for about 4 years, and nothing came! All small businesses lost money because of this. It is not stated in the contract that it is a cause for termination, but I feel like it could be a cause enough to find a settlement.
Any thoughts appreciated.
Thank you.
I took over a business in 2006 and with it its lease. The lease runs until August 31, 2009, and eventhough I tried really hard to negotiate an extension with the landlord at a lower rate, I have had to move to a different building who was offering me half the price of rent for the same sq ft. However, the condition was to move in By June 1st.
I am now facing the current management company to whom I have been paying rent with not 1 late payment, saying I am legally obligated to pay the rent until Aug 31. However, I cannot financially afford both rents (new place and old place) for 3 months!
I have tried to find a compromise given my excellent payment history, but the management company keeps on saying I am obligated. What are my options (if any)? Just to give some historic, the management company promised a pylone sign and an anchor store to all the "small" tenants in the plaza for about 4 years, and nothing came! All small businesses lost money because of this. It is not stated in the contract that it is a cause for termination, but I feel like it could be a cause enough to find a settlement.
Any thoughts appreciated.
Thank you.