Retail Lease - Can we get out before it starts?

[ds1120]

What is the name of your state? South Carolina
We entered into a retail lease in January 08. The lease term is to begin on April 08. We were given two months up front free rent. We moved into the space but unfortunate financial circumstances have caused us to have to get rid of the store and get out of the lease. Since it did not actually begin, can we get out before April 1?

 

[COlandlord]

If you signed the lease agreement, regardless of when it technically starts, you are bound by it.

 

[MIRAKALES]

The lease agreement began when the tenant signed the agreement and moved into the premises. The tenant is responsible for the full term of the lease agreement regardless of reasons or desire to terminate. Unlike residential lease agreements, the property manager is not held to the same standards to mitigate damages in finding a new commercial tenant.
In this case, it appears that tenant has only paid security deposits without rental payments. Rent not expected until April, but you have benefited from the free two months of rental. Is this accurate? Most commercial leases require substantial security deposits and several months rent in advance of move-in.

 

[OHlandlord]

If you received the 2 free months upfront and are now breaking the lease to move out, expect to have to pay full rent for those 2 "free" months. Most leases have a clause in them about having to pay back promotional costs if you fail to fulfill the lease. You will most likley be billed for those 2 months of rent.