Early lease termination Advice.

[1qaz9106]

This is for NY state in New York city. Lease ends at Feb, 2020. We want to terminate the lease early.

My family is currently operating a Restaurant, we have bad business that is why we want to end the lease and close the restaurant.

Our landlord told us there is a Good guy clause not listed in the lease, the clause need us to pay rent and utility bills up the the month we are leaving. Then he would let us go without any legal responsibility of the lease. And will not go after us.

Please advise if such clause is effective. If not, what is the best move we can have to terminate the commercial lease early?

Thanks for you help.

 

[Just Blue]

This is for NY state in New York city. Lease ends at Feb, 2020. We want to terminate the lease early.

My family is currently operating a Restaurant, we have bad business that is why we want to end the lease and close the restaurant.

Our landlord told us there is a Good guy clause not listed in the lease, the clause need us to pay rent and utility bills up the the month we are leaving. Then he would let us go without any legal responsibility of the lease. And will not go after us.

Please advise if such clause is effective. If not, what is the best move we can have to terminate the commercial lease early?

Thanks for you help.

Get it in writing.

 

[1qaz9106]

Get it in writing.

Can we notarize it to be sure?

 

[Just Blue]

Can we notarize it to be sure?

Sure.

 

[1qaz9106]

Sure.

But, can they still sue us since the lease is still effective?

 

[Just Blue]

But, can they still sue us since the lease is still effective?

If you have written/signed consent to terminate the lease early then you are covered. They could sue but would not win.

 

[1qaz9106]

If you have written/signed consent to terminate the lease early then you are covered. They could sue but would not win.

Ok got it. If we decide to work until Feb 2020. when the lease ends, Can we leave any time we want?

 

[PayrollHRGuy]

The release singed by the landlord will likely have a termination date.

 

[adjusterjack]

Our landlord told us there is a Good guy clause not listed in the lease, the clause need us to pay rent and utility bills up the the month we are leaving. Then he would let us go without any legal responsibility of the lease. And will not go after us.

Please advise if such clause is effective. If not, what is the best move we can have to terminate the commercial lease early?

Understand something here. You have a contract that says you pay rent until Feb 2020. You leave early and you are in breach of contract. Breach of contract carries potentially severe financial consequences. NY does not impose a duty to mitigate on landlord:

https://scholar.google.com/scholar_case?case=8404069308019360299&q=rios+v+carrillo&hl=en&as_sdt=4,33

So he would be entitled to let the premises stay empty for the duration of the lease and then come after you for all the rent that accrues until expiration of the lease.

As a practical matter, he is more likely to re-rent as soon as he can, but that can take several months with a commercial property and you would be responsible for paying the rent until he does get it re-rented.

If you can get him to let you out of the lease as of a certain date and relieve you of future obligations, your BEST move is to get it in writing.

This "good guy" thing is irrelevant.

 

[1qaz9106]

Understand something here. You have a contract that says you pay rent until Feb 2020. You leave early and you are in breach of contract. Breach of contract carries potentially severe financial consequences. NY does not impose a duty to mitigate on landlord:

https://scholar.google.com/scholar_case?case=8404069308019360299&q=rios+v+carrillo&hl=en&as_sdt=4,33

So he would be entitled to let the premises stay empty for the duration of the lease and then come after you for all the rent that accrues until expiration of the lease.

As a practical matter, he is more likely to re-rent as soon as he can, but that can take several months with a commercial property and you would be responsible for paying the rent until he does get it re-rented.

If you can get him to let you out of the lease as of a certain date and relieve you of future obligations, your BEST move is to get it in writing.

This "good guy" thing is irrelevant.

Should I get it in writing through my lawyer? Or we write it ourselves and get it notarized?

Thanks.

 

[justalayman]

If you have a lawyer it sounds like you should alllow your lawyer to take care of this. That way you will know it’s done in such a way it is enforceable.