A real life case study of Anna Lynch finding a new tenant to take over a clients existing lease.
Hi, Marc Valentine here, from Perth Commercial Property.
Today I’ve got a case study for you guys, about a company who approached us because they were leasing a commercial property and they had a commercial property lease in place, but they were in a position where they no longer wished to lease the premises. They wanted to stop paying rent and they wanted to potentially find somebody else to take over the payment of that rent for them.
We sat down with this company and went through their commercial lease documents and we quickly ascertained that, yes, they could assign their lease, subject to approval from the owner. This is typical in this situation.
We often have people come to us that want to assign their leases for whatever reasons, they no longer wish to retain the property. They want to move on, their company’s grown, it’s shrunk, whatever the case may be.
In this situation, we were able to…
- Quickly arrange for professional photos to be taken of the property.
- We wrote a really nice internet advert, highlighting all the property’s great features.
- Then we advertised the property on the internet.
The very next day, we actually managed to lease this property, which was a really, really good result for our client, because when people are in a position where they recognize they no longer wish to retain a property, usually they need to stop paying rent pretty quickly. In this case, we were able to help them achieve that result really, really fast.
If you’re in a position where you have a commercial lease in place, and you no longer wish to continue leasing the property, you no longer wish to continue paying rent, there are options for you.
Perhaps, if you give us a call, we can help explain those to you. Assignment is certainly one of those options. Assignment is basically where you find a new tenant to replace you. They are going to take over your leasing obligations.
Thanks for watching. I hope this has been of some use to you if you’re in a similar situation.
If you’re requiring help, please don’t hesitate to give us a call on
0427 182 296