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Ending a business lease

  • 09-11-2018 2:07pm
    #1
    Astew286
    Registered Users, Registered Users 2 Posts: 1 ✭


    I've been leasing a cafe from a landlord for 11 years. My lease ended in 2011 and neither myself or my landlord mentioned any other lease. We just carried on with me paying the rent monthly in advance.
    I now want to quit the property, how much notice do I have to give? I'm hoping it is just 1 month?


Comments

  • #2
    antoinolachtnai
    Registered Users, Registered Users 2 Posts: 9,816 ✭✭✭antoinolachtnai


    'What does the lease say?' is really the answer. If it isn't clear, it's probably time to talk to your landlord about what would be agreeable. If it isn't possible to come to an agreement for whatever reason, it's solicitor-time. Most likely, one month's notice is ok, but it may need to be served on a specific day of the month and if the relationships are not good then it makes sense to get professional advice on this, not because it will be complicated, but this is clearly something you would like to get done-and-dusted quickly and cleaning.

    Is your location busy? Would anybody be interested in purchasing your interest (i.e., buying the lease off you)? If you think it might have value but don't know, you need the advice of an estate agent specialising in commercial property.


  • #3
    glic71rods46t0
    Closed Accounts Posts: 1,074 ✭✭✭glic71rods46t0


    antoinolachtnai wrote: »
    'What does the lease say?' is really the answer. If it isn't clear, it's probably time to talk to your landlord about what would be agreeable. If it isn't possible to come to an agreement for whatever reason, it's solicitor-time. Most likely, one month's notice is ok, but it may need to be served on a specific day of the month and if the relationships are not good then it makes sense to get professional advice on this, not because it will be complicated, but this is clearly something you would like to get done-and-dusted quickly and cleaning.

    Is your location busy? Would anybody be interested in purchasing your interest (i.e., buying the lease off you)? If you think it might have value but don't know, you need the advice of an estate agent specialising in commercial property.
    The lease has long expired so not relevant.
    Educated guess is that the rent is at Celtic tiger levels and the landlord said nothing for the last 7 years as the rent would have been lower in a new lease.
    Even if there was a lease it would most likely be worthless given that the OP is looking to close (A presumably loss making business) as soon as possible.
    Give a months notice OP, it's more than fair given that no lease exists


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