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This is why that strategy does not make sense to me. I don’t refute it _is_ a strategy that would undoubtedly work. But if you’re on the hook for the full amou
by TheNewsIsHere 3y ago
This is why that strategy does not make sense to me. I don’t refute it _is_ a strategy that would undoubtedly work.
But if you’re on the hook for the full amount either way, why not just leave early and hand over the key? There’s less that could go wrong that you’d be responsible for, the space isn’t just sitting unused, and the owner has an opportunity to market it earlier.
Everyone walks away better for it. Plus you don’t have the negativity and expense of a lawsuit or an eviction or whatever else.
Ninja edit: am I missing something?
- beanjuiceII 3y ago>Ninja edit: am I missing something? ya the lease agreement
- TheNewsIsHere 3y agoWhat kind of lease agreement requires that you be in the building? I am genuinely asking because I’m not familiar with that kind of stipulation.
- 411111111111111 3y agothis is the proposed theory, basically: You have a contract for a 1 year lease but stop paying, getting evicted after the second month. Saved 10 month of obligations
- WirelessGigabit 3y agoDon't those leases have stipulations that are like "upon eviction the whole lease becomes due"?
- portpecos 3y agoI hope not. When I was forced to leave my place, I couldn't even manage to pay the electricity bill. It'd simply be impossible for me to afford such a hefty sum + compound interest + late penalty fees, if the Landlord pursued me in a manner that led to my future wages being garnished to cover all that. I resided there for four years and consistently paid on time, but by the fifth year, I simply couldn't meet all the financial obligations. I sincerely wish the Justice system would show more leniency instead of demanding that I repay the entire lease upon eviction.
- silverbax88 3y agoResidential leases and commercial leases are wildly different. Residential leases are fairly boilerplate but commericial leases are bespoke and negotiated.
- mrtranscendence 3y agoI know absolutely nothing about these agreements, but the idea seems at least plausible. An unoccupied building doesn’t get problems noticed or fixed, and could result in squatting.
- donedeals 3y agoIt’s called a go dark clause. Fairly common in retail, not as common in office but it happens.
- Cerium 3y agoI think there was a grocery store in the Cupertino Vallco some years before it was torn down. They were dark with a small table out front selling apples on the honor system. As I understand they had some lease provision that they would be open to drive customer visits to the mall.
- deleted 3y ago[deleted]