Lease Surrender Advice for Tenants

It is usually a tenant who wants to get out of lease early. The legal terminology is a lease surrender and is typically negotiated and documented with the landlord. It is important to get legal advice as there can be liabilities and ongoing unnecessary exposure that can be avoided. Some common reasons that result in in an early end to the lease by agreement (as opposed to lease default) include:

• you decide to move to more appropriate premises (often to expand or reduce the business) and another tenant has been found.
• you are selling your business its business, and the landlord will often want to enter into a fresh lease with the new tenant, for a longer term.
• you are experiencing financial difficulties and struggling to pay rent and the landlord might prefer to surrender the lease to find a more financially stable tenant.
• the landlord wants to redevelop the property and is paying you to leave.

Why do you need a Lawyer?

Lease surrenders are a simple concept. However, when lawyers act for a landlord, they will typically draft the surrender strongly in favour of the landlord. Making sure that the terms of the surrender are fair, and the deed of surrender is fair and reflects what you have agreed is critical.

We are experienced at negotiating lease surrenders and have achieved favourable outcomes for tenants when the landlord is motivated to have the premises back. This is especially true when there has been a sale of the property and the developed wants to start building.

In other circumstances, when there is a dispute, and the landlord agrees to release you on particular terms, a lease surrender lawyer will negotiate hard and make sure that the release is a total release of liability to you.

How our lease lawyers can help negotiate a surrender of lease

Our commercial leasing team is comprised of experienced lease lawyers with a clear understanding of retail and commercial leasing laws. We will listen to your concerns, provide you with the legal perspectives and the issues to consider. We are skilled at negotiating with landlords or their lawyers on behalf of our clients and achieving great outcomes.

We will make sure that the deed of surrender is reflective of what is agreed and contains terms that are fair and reasonable to you.

Please feel free to contact us to discuss your situation. We can be contacted by completing the contact for on this page or by calling us on 1300 907 335.