How do I terminate a commercial lease?
Typically, if you wish to terminate a lease at the conclusion of the rent term, all you need to do is communicate this with your landlord and any relevant property agents.
Should you wish to break a commercial lease early, then you will need to check what the break clause specifies that you can do. Standard break clauses tend to specify that the lease can be ended without anyone facing a penalty provided that you give two months’ notice before activating it.
Some break clauses will also include provisions which will allow you to break the lease early if:
- You are able to pass the lease on to someone else – the landlord may require you to act as guarantor
- You are able to (and the lease allows you to) sublet the lease premises
- The Landlord gives you permission to end the lease
If you cannot meet any of the above criteria then it will be your legal obligation to continue paying rent until the tenancy period is at an end.