How can I get out of office lease with 12 months left if I can no longer afford it?

UPDATED: Sep 22, 2011

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

UPDATED: Sep 22, 2011Fact Checked

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

How can I get out of office lease with 12 months left if I can no longer afford it?

I need to down size, can’t afford current rent, landlord isn’t willing to work with us.

Asked on September 22, 2011 under Real Estate Law, Texas


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

That is a tough one.  I would take the lease to an attorney to review on your behalf.  You obviously know that you have the "option" to breach and walk away - although that really is not an option - but the reason I state that you should have some one read it for you is to see if you can possibly sub let the space entirely or in portions.  Entirely is either allowed or forbidden under the lease or allowed with approval (which maybe could be pushed if at forst it looks like "forbidden"). Some times you can rent out an office with in a suite of offices so long as your rental agreement allows it.  So you need to see what your options are.  Otherwise, you may be stuck.  Good luck. 

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption