FINANCE
- Termination with no penalties - Early termination and the obligation to secure alternative tenants - Transfer of lease rights and obligations to another tenant ( assignment ) - Rental of part of or the entire property to another tenant ( subleasing )
4 . Negotiate the best deal Once you have discussed the options with the other party , try to negotiate a solution that will be beneficial to you both . Don ' t delay discussions ; resolve the issue as soon as possible before tensions arise .
Be mindful of notice periods and ensure you comply with everything required of you to prevent any unnecessary challenges that may accompany the termination negotiations .
5 . How do I know what the best deal is ? Compare the costs and benefits of your desired approach and determine which option will be the most attractive and affordable to both parties . Assess the risks and liabilities attached to each option as well as any possible contingencies or guarantees that may be necessary to protect you or the other party from future problems or disputes .
A good rule of thumb is to ask yourself whether the
59 NOV / DEC 2023 Real Estate Investor Magazine