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Breaking My Lease To Grow My Business...

RyanGMW
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RyanGMW Explorer

RyanGMW

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Hey Everyone...

I'm in the position to move my shop to a bigger, better location. I'm at 24 months into my 36mo lease. I rent 3200sq ft in a 20k sq ft building that has been vacant until now. The new tenant is a video arcade with a snack bar. Not a good fit for my high-line German auto shop...

I have the chance to rent a shop that is 4500 sq ft with 5 bay doors and a glass showroom for my show car and waiting area, right in downtown on a main street. I have needed more space over the past 8 months and my business is growing very quickly right now. I think this space could be just what I need.

 

Any pointers on how to break my lease? I was the only one here when I moved in, now with this new tenant coming I lose my highway frontage signs and will have no right to the parking spaces out front of my shop, its first come-first served. The kind of crowd this business attracts is also a huge downside for me...

One bargaining chip is my landlord is about to pay $15k to have the power meter split so I'm on my own and the rest of the building is for the other tenant. If I leave now, he won't have to spend that money and the other tenant may take over my space too if they can use it for storage or whatnot...

 

Any input is greatly appreciated!

Ryan G.

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HarrytheCarGeek Experienced

HarrytheCarGeek

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Gather as much information about your Landlord as you can, and see if you can appeal to his self interest into letting you go from the place.

 

Have a third party make it as if would be a good idea for your LL to have a different tenant occupy the place.

 

Keep in mind that as a landlord, you are always in need of good reliable tenants, and if you are on the other side of the coin what would be a reason to let a tenant break a lease?

 

Also keep in mind that all actions have consequences, so think it well through, even taking into account that not all people are horonable and by revealing your hand they may tend a trap for you.

 

Be careful with your reputation, that's why you must know well your landlord's reputation so you may know how to approach the negotiations with him.

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  • 2 weeks later...
RyanGMW Explorer

RyanGMW

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Well, the owner of the future shop rented it to my competition so I don't have to break my lease. I waited too long to make a decision and she went with them instead. I have 11 months left in my lease, and I will ride it out. We are busy and I'm making some very good money right now so I will just deal with it. I want to buy a shop so this leaves me time to gather up a down payment and set some money aside for improvements.

 

I appreciate everyone's feedback and advise.

Side note- This forum is truly refreshing compared to some of the car forums I'm on. They are overrun with a bunch of punk kids that are disrespectful to one another.

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