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Updated over 5 years ago, 03/28/2019
Tenant wants to know if they can buy themselves out of lease
I have a Commercial office space tenant in a 3 year lease who after 5 months decided they cannot afford to keep the space and want to know If they can buyout the lease. Has anyone arranged an agreement like this before? I understand I have an obligation to market the space. However would It be in my best interest to take a lump sum payment? The rent is $750 per month they have a last month rent and security deposit of $750 as well. What would be a reasonable amount for a buyout?