Lease Termination - Is default necessary?

If your lease is terminated you will probubly still owe and it does not end there. A lease modification is a better altenative to a lease termination.

An early lease termination may seem like the economical way to go, but not when it comes at a cost. Landlords usually prevail in court and can get additional damages and legal costs awarded.

An early lease termination initiated by the tenant or lessee may prove more costly than going the course of the lease, even if the tenant has sent a lease termination letter to the landlord or lessor. Likewise, a tenant is not excused from remaining obligations under the lease if the landlord or lessor sends a lease termination notice.

Tenant obligations, namely financial obligations under the lease often survive the termination of the lease. It often matters little who initiated the termination of the lease agreement or who sent the lease termination notice. In other words, whether the lessee elected to terminate the lease or the lessor elected to terminate the lease, all the financial obligations under the lease generally survive the termination of the typical lease agreement.

A lease modification instead it is almost always a far better way to go. FMC can determine whether you are being charging above market and can assist you in securing a lease modification that makes better sense than moving and still owing.

Likewise if you are a landlord or commercial property owner, a lease modification is a better way to go as it is a better alternative to court and collections. Lease modification is a better alternative to vacancies and defaults.

And if you are a property owner who is finding it increasingly burdensome to meet your commercial mortgage payment, a commercial loan modification may be right for you. FMC also provides commercial loan modification services for commercial property owners on all types of commercial property. There is no better time than now to secure a commercial loan modification.

Request your free initial consultation today. Call 800-279-5122 or request online.