What is the name of your state? Connecticut
I rent out my commercial property to an "auto dealer" who signed a 5 year lease in January 2006.
He just sold his business, to the person who has been working for him. I feel that he should "buyout" his lease if he wants to be relieved of his obligation for the next 4 1/2 years. What are the "typical" buyout terms? What should I charge him? He has a "triple net lease" and is paying 2800.00 per month, he has given me a one month security deposit.
Thanks
I rent out my commercial property to an "auto dealer" who signed a 5 year lease in January 2006.
He just sold his business, to the person who has been working for him. I feel that he should "buyout" his lease if he wants to be relieved of his obligation for the next 4 1/2 years. What are the "typical" buyout terms? What should I charge him? He has a "triple net lease" and is paying 2800.00 per month, he has given me a one month security deposit.
Thanks