Legal Question in Real Estate Law in Ohio
Commercial Office Space Lease
We have suffered severe financial loss and have asked our management company to move us to a cheaper, smaller space. They have already found a new tenant for our current space and would like us to start moving in 7 days. The space they would like us to relocate to is not workable nor in our new price range. If they have a new tenant for our space, can we be freed of our lease without penalties and can they make us leave in 7-10 days?
1 Answer from Attorneys
Re: Commercial Office Space Lease
It depends on the language in your commercial lease. I doubt that the lessor will agree to waive future rent and penalties and I wonder whether it will try to tie that into the new space you are to occupy. However, the lessor has a duty to mitigate and if they have located another tenant, it cannot recover future rent unless there is a discrepancy in the amounts. I would consult an attorney before you make a move either way.