You may desire to lease premises for your business with the intent to grow and sell the business for a profit. You can only do so if the lease allows for a sublease or assignment to a third party. You must not only negotiate with the landlord to allow a sublease or assignment, but you must negotiate the type of consent that you must seek from the landlord. The tenant may be required to obtain landlord consent on a scale that varies from a landlord not being able to withhold reasonable consent to where the potential sublessee or assignee must meet certain requirements, including but not limited to, credit score, background check, tangible assets valued at a certain amount, and/or a certain number of years of business experience within the same industry as the current tenant’s business.

If you would like to discuss how we can help you draft, review, and/or negotiate a commercial lease on your behalf, please call Kapadia & Naik at 770-881-8081.